Portfolio sale of four assisted living and memory care communities in northern Wisconsin
Blueprint is pleased to announce the successful sale of the Cottage Living Portfolio, which consists of four assisted living and memory care communities located in northern Wisconsin, specifically Green Bay and nearby Appleton. At the time of sale, the Portfolio was 92% occupied, generating approximately $1.6 million in trailing EBITDAR on an annualized basis.
Blueprint worked in conjunction with the Seller to design a marketing approach strategically targeting only one specific buyer with whom they had the utmost confidence could execute on the transaction.
Blueprint was charged with the task of producing a top-of-market offer from this buyer, a private, non-traded REIT based in Southern California.
The direct marketing effort achieved the Seller's goal, and Blueprint was able to close the deal quickly and quietly at a price of $18,350,000, or approximately $150,000 per unit.
The Buyer partnered with a West Coast-based, regional provider new to the Wisconsin market to operate the communities.