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The 67-unit community was built in 2013 as part of an expansion to an adjacent CCRC and had gone through multiple operator changes over the years.
Surrounded by a large and affluent growing senior population, the community was positioned for success being well located off Route 20, providing great accessibility to both the Odessa and Midland markets.
Additionally, the community benefited from limited local competition and over 13,000 residents aged 75 and over within a 15-mile radius, with that age cohort projected to grow 20% over the next five years.
Blueprint positioned the deal as a rare opportunity for an incoming regional owner/operator to acquire a well-maintained community in a growing metro market in West Texas at below replacement cost, while implementing expense control measures to stabilize the community’s operating cash flow.
Through its strategic marketing process, Blueprint procured multiple competitive offers ultimately advising the Seller to move forward with a value-add regional owner/operator that already had a presence in the DFW market and was looking to expand its footprint within Texas.
Blueprint worked with all stakeholders involved to ensure a smooth operational transition and successful closing.
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