SAN ANTONIO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Inn at Los Patios, a 166-unit independent living and assisted living community in San Antonio.
Blueprint represented a court-appointed receiver to maximize proceeds for the trustee group and stakeholders involved.
Though the community was 80 percent occupied and generating approximately $1 million of cashflow, Blueprint sold the upside of increasing occupancy by elevating the competitive profile and implementing minor expense efficiencies through regional operations.
A New York-based private equity group acquired the property for $21 million in an all-cash transaction. The buyer plans to install its Texas-based operator partner to manage the community.