ROUND ROCK, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of Wyoming Springs, a 100-unit assisted living and memory care community in Round Rock, a suburb of Austin.
One Liberty Properties Inc. (NYSE: OLP), a publicly traded REIT based in New York, sold the property for an undisclosed price. The buyer was a New York-based private equity fund looking to expand its seniors housing presence.
Wyoming Springs was the only seniors housing asset in One Liberty’s portfolio and was being operated by Senior Care Centers LLC, which filed for Chapter 11 bankruptcy in 2018. Following declining performance after the bankruptcy filing, Senior Care Centers rejected its lease with One Liberty, leaving the owner to either sell or find a new operator, according to Blueprint.
Joshua Salzman and Ben Firestone of Blueprint handled the transaction.