Blueprint Arranges Sale of Vacant Community for Behavioral Health Conversion in Tennessee

by Jeff Shaw

TENNESSEE ­— Blueprint Healthcare Real Estate Advisors has brokered the sale of a vacant assisted living community in Tennessee. The buyer plans to convert the asset into a behavioral health facility.

Upon the seller securing the specialized zoning entitlements for inpatient behavioral use, Blueprint’s team took the asset to market and procured an offer from a behavioral healthcare owner-operator that originally planned to purchase the asset, deploy capital improvements, and license the building as an inpatient substance abuse facility.

However, during escrow, Blueprint was approached by an adolescent mental healthcare provider expressing strong interest in leasing and operating the property. Blueprint introduced the buyer to the prospective tenant resulting in the consummation of a triple-net lease. Blueprint subsequently sold the real estate again to a private REIT immediately after the seller had purchased the property.

Andrew Sfreddo, Shane Harmon and Gunnar Raney led the Blueprint team.

You may also like