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LAKE WORTH, Fla. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 110-unit assisted living and memory care community in the Palm Beach-area city of Lake Worth.
The property, which was not named, was sold as a value-add opportunity despite being Class A and opened in 2019. While the community never stabilized, it did experience positive momentum in 2022 and early 2023 and was around breakeven at launch despite supply pressure in the submarket, according to Blueprint.
A national developer/investor sold the asset to Capital Senior Ventures for an undisclosed price.
Alex Florea, Kyle Hallion, Brooks Blackmon and Kory Buzin led the Blueprint team.