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The portfolio consisted of two ~50-unit assisted living communities and one ~20-unit standalone memory care community built in the mid-1990s. The communities were 65% occupied and breaking even on a consolidated basis at the time of the sale.
While operationally challenged, the communities serve a very critical need for affordable seniors housing in a Grand Junction market short on supply and long on demographic tailwinds, with significant senior population growth occurring within the subject PMAs.
Blueprint conducted an expansive marketing effort targeting the most active senior housing groups interested in the mountain west, ultimately receiving interest from a range of buyer profiles, accepting five formal written offers.
A Denver-based owner/operator was ultimately selected as the buyer, seeking to expand an existing Colorado regional seniors housing presence into the high-growth Grand Junction MSA.
The transaction closed on time, and at the negotiated upon purchase price despite continued operational challenges endured during the closing period.
The successful sale reinforced Blueprint’s position as a leading advisor for complex senior housing transactions.
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