It Takes a Village
Sale of an 87-unit assisted living and memory care community located north of San Diego
Blueprint executed the transaction on behalf of a publicly-traded REIT
Situated just off State Route 78 in the North County of San Diego, the community sits in an ideal location with high visibility surrounded by favorable senior demographics. Recently, however, occupancy declined due to new competition in the market, and the community struggled to sustain its market rates. Blueprint was selected to facilitate the sale process for its wide network of qualified regional buyers and experience in value-add transactions. Blueprint's marketing approach positioned the opportunity for an incoming investor to refresh the building's aesthetic in order to reposition the asset in the market and ultimately regain historical market share.
Through a competitive bidding process garnering multiple offers from both in-state and out-of-state investors, the chosen buyer was a San Diego-based owner-operator with a large California footprint, including a presence in the local market. The buyer intends to renovate the community and capitalize on operational synergies within its larger management platform.