Blueprint Negotiates Sale of 95-Unit Community in Fort Mitchell, Kentucky

by Jeff Shaw

FORT MITCHELL, Ky. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 95-unit assisted living and memory care community in Fort Mitchell, a suburb of Cincinnati in northern Kentucky. The property was built in the late 1990s.

A regional owner acquired the property for an undisclosed price.

The seller was a national developer/investor seeking an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. The communities were purchased in a sizable portfolio transaction pre-COVID, under a value-add thesis contemplating operator transitions to create regional groupings coupled with the intent to meaningfully invest in renovations and repositioning.

The cumulative impact of COVID followed by an unprecedented rise in interest rates created meaningful headwinds to the original thesis and drove a portfolio re-prioritization, rationalization and de-levering effort.

Kyle Hallion and Alex Florea led the Blueprint team.

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