BUFORD, Ga. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 61-unit assisted living and memory care community in Buford, located 39 miles northeast of Atlanta. The buyer in the all-cash transaction was an acquirer of value-add properties. The seller was an institutional real estate and development firm. The names of the buyer and seller were not disclosed.
Even though the property was at 73 percent occupancy and operating at a negative margin at the time of sale, the real estate asset’s potential attracted significant interest, particularly among value-add investors in the Southeast. Originally built in 1996, the property is well-positioned for revitalization, according to Blueprint, which represented the seller in the transaction.
Despite challenges in the investment market, resulting in the buyer’s original financing falling through, Blueprint reached a successful close through the all-cash purchase.