Sale of 100-unit assisted living and memory care community in Connecticut
Blueprint is pleased to announce the successful sale of Atria Stratford, a 100-unit assisted living and memory care community located in Fairfield County, Connecticut. Blueprint executed the transaction on behalf of a publicly traded REIT.
Developed in 1999, the 87,000 square foot community features 76 assisted living and 24 memory care units with standard senior living amenities and accommodations.
Atria Stratford is situated in the extremely competitive submarket between Bridgeport and New Haven.
The affluent area commands relatively high rental rates with 98% average assisted living market occupancy.
As several formidable competitors entered the local market offering attractive incentives and promotions, the community experienced significant leadership turnover and occupancy dropped.
While rents held relatively constant, performance steadily declined, and Blueprint was engaged.