Blueprint Arranges Sale of Value-Add Community in Metro Memphis

by Jeff Shaw

MEMPHIS, Tenn. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a value-add assisted living community near Memphis.

A national developer/investor engaged Blueprint to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. These communities were purchased in a sizeable portfolio transaction pre-COVID, under a value-add thesis contemplating operator transitions to create regional groupings coupled with the intent to meaningfully invest in renovations and repositioning.

Unfortunately, the cumulative impact of COVID followed by an unprecedented rise in interest rates created meaningful headwinds to the original thesis and drove a portfolio re-prioritization, rationalization, and de-levering effort.

Opened in 1997, the community offers 48 units of assisted living across 70 licensed beds, and was located in a Southeast suburb of Memphis. 

The winning bidder was a local Memphis investor, and the acquisition marked ita second in the seniors housing space. In light of capital market challenges, the buyer paid all cash at closing. Further details on the buyer, seller, property and price were not disclosed.

Kyle Hallion and Alex Florea led the Blueprint team.

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