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OREGON — Blueprint Healthcare Real Estate Advisors has brokered the sale of a memory care portfolio in Oregon.
Built between 1999 and 2014, the portfolio consists of seven 15-unit buildings located in secondary markets along the I-5 Interstate.
While historically operating near stabilized levels generating gross revenue of $6 million, performance declined in late 2021 during the COVID-19 pandemic. Occupancy at closing was approximately 85 percent.
The seller is retiring and selling off all its assets. The buyer is a regional operator specializing in memory care. The price was $15.9 million, or roughly $178,000 per unit.
The buyer intends to invest in operational systems to drive performance and collaboration to stabilized performance.