OKLAHOMA CITY — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 38-unit memory care community in an affluent neighborhood of Oklahoma City.
The seller was a private equity fund seeking to exit its only standalone memory care property. Built in 2010, the community had strong historical occupancy, but was negatively impacted by the COVID-19 pandemic and was in the early stages of a performance rebound.
The community was positioned as a value-add opportunity for buyers to capitalize on the strong demographics and surprising scarcity of standalone memory care competitors to build a more premium, differentiated offering through a targeted capital improvement plan and the conversion of semi-private units.
The buyer was a regional owner-operator focused on standalone memory care. The price was not disclosed.