MARSHALL and MT. PLEASANT, Mich. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Maplewood of Marshall and Maplewood of Mt. Pleasant, located approximately 100 miles away from each other in Central Michigan.
The assets feature a combined total of 93 assisted living units. Built in the late 1980s and 1990s with renovations in the early 2000s, the communities were well maintained with over 95 percent occupancy prior to the onset of the global pandemic.
The operator ultimately decided to exit its only assisted living communities to concentrate on its core focus, managing skilled nursing and rehabilitation centers. The seller was the former REIT owner. An entrepreneur with an expanding regional platform acquired the properties for an undisclosed price.