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Chasing Green in Greenville
Sale of 91-unit assisted living and memory care community in Greenville, South Carolina
Blueprint's competitive process maximizes execution certainty while maintaining solid market value amid declining performance
Built in 2001, the community's 91 units are comprised of 74 assisted living and 17 memory care units. 100% private pay resident population and RevPOR well below reported market averages.
Leadership turnover in a very competitive market led to declining performance between 2016 and 2017 that started to rebound in 2018. Cash flow continued to decline during the marketing and diligence phases of the transaction, with census dropping to its lowest point since 2017.
Blueprint positioned the offering as a value-add opportunity for an incoming operator to establish a new and dedicated leadership team to return to profitability while capitalizing on the community's stable memory care occupancy. Blueprint assisted the seller with the strategic buyer selection of a private investor to navigate the transaction to a successful close in light of diminishing performance.
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