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Between a Round Rock and a Hard Place
Sale of 100-unit assisted living and memory care community in Round Rock, Texas
Blueprint is pleased to announce the successful sale of Wyoming Springs, a 100-unit assisted living and memory care community located in Round Rock, Texas. The transaction was executed on behalf of a New York-based publicly traded REIT, One Liberty Properties, Inc. (NYSE: OLP).
Wyoming Springs represented the only seniors housing asset in One Liberty’s portfolio and was being operated by Senior Care Centers LLC who announced filing for Chapter 11 bankruptcy in late 2018.
The asset was a newer seniors housing community in an up-and-coming suburb of Austin, Texas.
Wyoming Springs had experienced years of successful operations until Senior Care Center’s bankruptcy filing, at which point operations and performance were negatively impacted.
Senior Care Centers then rejected its lease with One Liberty, and One Liberty was left in a difficult position to either re-tenant or sell the community.
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