Blueprint closes sale transaction completing skilled nursing operator’s exit from assisted living space
Located in small and historic towns of central and Southcentral Michigan, Maplewood of Marshall and Maplewood of Mt. Pleasant have a combined total of 93 assisted living units.
Built in the late-1980’s and 1990’s with renovations in the early 2000’s, the communities were well maintained with over 95% occupancy and strong performance levels prior to the onset of the global pandemic.
However, the operator ultimately decided to exit its only assisted living communities to concentrate on its core focus, managing skilled nursing and rehabilitation centers, so in conjunction with the REIT owner, Blueprint was engaged to market the communities for sale.
Blueprint’s strategic marketing and sale process yielded several competitive offers from mostly in-state providers seeking synergistic growth opportunities. After multiple rounds, an entrepreneur with an actively expanding regional platform was chosen as the buyer.
Like many have experienced across the senior living industry, occupancy steadily declined with mounting labor pressures, but Blueprint prevailed, working collaboratively with the buyer and exiting operator to successfully execute the transaction and facilitate the management transition.