RICHMOND HEIGHTS, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Richmond Heights Place, a continuing care retirement community in Richmond Heights, a suburb northeast of Cleveland. The property, featuring a total of 138 seniors housing units and skilled nursing beds, was part of a strategic exit plan by a West Coast-based owner-operator. A private owner-operator looking to expand in the Midwest acquired the asset for an undisclosed price. Connor Doherty, Ryan Kelly and Dan Mahoney led the Blueprint team.
DAYTON, Ohio — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a memory care community in Dayton, and the buyer plans to convert the property into a substance use disorder clinic. A seniors housing operator and its institutional capital partner decided to exit the property, and the highest offers were from behavioral health companies, according to Blueprint. Further details on the buyer, seller and price were not disclosed. Andrew Sfreddo, Shane Harmon, Gunnar Raney, Amy Sitzman and Giancarlo Riso led the Blueprint team.
DAYTON, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of The Oaks of West Kittering, a skilled nursing facility in Dayton. The community was built in 1973 and features 118 licensed beds. A regional owner-operator sold the property as part of its shift to other asset classes. An owner-operator with a presence in Ohio purchased the facility for an undisclosed price. Connor Doherty and Ryan Kelly led the Blueprint team.
COLUMBUS, Ohio — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a seniors housing community in Columbus. The property faced challenges with occupancy and escalating staffing expenditures, which is why the owner sought a sale, according to Blueprint The community, which opened 2001, comprises 125 licensed skilled nursing beds and 32 seniors housing units. The buyer was an owner-operator with an established Ohio healthcare enterprise that sought to expand its footprint in the Columbus MSA and capitalize on the recent Ohio Medicaid reimbursement rate enhancements for both skilled …
LANCASTER, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Crestview Rehabilitation, a 180-bed skilled nursing facility in Lancaster, approximately 30 miles southeast of Columbus. The facility is a cornerstone in the Lancaster community for nearly five decades, according to Blueprint, but faced operational challenges exacerbated by the staffing and occupancy struggles that emerged during the pandemic. The buyer was an owner-operator seeking to capitalize on the Ohio Medicaid rate increase implemented in 2023. The seller and price were not disclosed. Connor Doherty and Ryan Kelly led …
BEACHWOOD, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Menorah Park, a sprawling seniors housing campus in the Cleveland suburb of Beachwood. Following an affiliation with a fellow nonprofit, Montefiore, in July 2020, the campus totaled 588 licensed skilled nursing beds, 288 assisted living and memory care units, and 193 independent living units. The seller was a nonprofit organization that has served Cleveland’s Jewish community since its founding in 1906. Facing challenges due to increased healthcare staffing and a shift in competitive landscapes, the board elected …
CHAGRIN FALLS, Ohio — Continuum Advisors has arranged for the sale of The Weils, a 120-unit assisted living, memory care and skilled nursing community in Chagrin Falls, an eastern suburb of Cleveland. Built in phases between 2002 and 2015, the community consists of 75 assisted living units, 18 memory care units and 27 skilled nursing units. The community sits on a 45-acre site and includes excess acreage for future expansion. Through the marketing of the campus for sale, the community featured occupancy around 85 percent. Cleveland-area based non-profit Eliza Jennings …
OHIO and INDIANA — Senior Living Investment Brokerage (SLIB) has arranged the sale of a five-property portfolio located in Ohio and Indiana. The five communities total 400 units and were built between 1983 and 2001. The Ohio communities are all located within 250 miles of each other, and the Indiana communities are located within 75 miles of each other. The portfolio is well maintained and underwent significant capex over the last few years, according to SLIB. The seller was a Northeast-based private REIT that divested the portfolio to focus on …
CATAWBA ISLAND, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Vineyard on Catawba in the lakeside town of Catawba Island. The campus features independent living units, assisted living apartments, developable land and affordable senior apartments. The seller was one of the country’s largest nonprofits. The buyer was United Church Homes, another large nonprofit seniors housing provider. The price was not disclosed. United Church Homes has rebranded the campus as The Parkvue Community on Catawba Island. Connor Doherty and Ryan Kelly led the Blueprint team.
CLEVELAND — KeyBank Community Development Lending and Investment (CDLI) has provided $11.3 million for 9 percent tax credit equity to finance the construction of Garrett Square Apartments, a 49-unit affordable seniors housing project located in the Glenville neighborhood of Cleveland. KeyBank will provide a $9 million construction loan and a $2.3 million permanent loan. Additional permanent financing sources include secondary soft loans of $1.7 million provided through the City of Cleveland’s American Rescue Plan Act, $900,000 from City Home, and $450,000 from the County ERA fund. Garrett Square will be …