RICHARDSON, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of Atria Richardson, a 90-unit independent living, assisted living and memory care community in Richardson, just north of Dallas.
A publicly traded REIT sold the community. Originally constructed in 1999, the 62,000-square-foot community is located near the University of Texas-Dallas campus.
The community historically operated at stabilized levels; however, leadership turnover and new competition impacted overall occupancy and rental rates. As a result, cash flow declined.
Another publicly traded REIT and its Florida-based property manager acquired the community for an undisclosed price. Ben Firestone, Michael Segal, Joshua Salzman and Alex Florea of Blueprint facilitated the transaction.