MIDDLE RIVER, Md. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Woodlands Assisted Living, a 65-unit assisted living and memory care community in Middle River, a northeastern suburb of Baltimore.
A publicly traded REIT sold the asset to Inspirations Assisted Living and Memory Care for an undisclosed price.
Built in 1999, the community featured a history of performance prior to the onset of the pandemic, with occupancies north of 90 percent and operating margins approaching 30 percent. Significantly impacted by the pandemic in 2020 and 2021, the community’s performance was beginning to trend back upwards at the time of marketing.
Middle River will complement Inspiration’s existing Maryland portfolio of communities in Lutherville, Linthicum and Westminster, according to Blueprint.