MEMPHIS, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a vacant assisted living community in Memphis.
Blueprint’s behavioral healthcare team advised the seller on obtaining special zoning entitlements to seek a buyer looking to convert the property into a behavioral healthcare facility.
The buyer originally planned to implement capital improvements and license the building as a 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 an triple-net lease.
Andrew Sfreddo, Shane Harmon and Gunnar Raney led the Blueprint team.