Las Villas Vendidas
Sale of 185 operating unit assisted living and memory care in Escondido, California
Blueprint is pleased to announce the successful sale of Las Villas Del Norte, a 185 operating unit assisted living and memory care community located in Escondido, California. Blueprint executed the transaction on behalf of a publicly traded REIT.
Constructed in 1986 with an expansion completed in 2006, Las Villas Del Norte is situated in an affluent submarket north of San Diego.
The community had initially offered a wider spectrum of senior care including independent living and a dedicated wing for skilled nursing and long-term care.
Following the campus addition of the independent living building, it was eventually converted to house high acuity assisted living residents.
As community management underwent several corporate-level changes, operational performance suffered, leading to the closure of the skilled nursing wing as new management focused on a lower acuity product.
As a result of the declining trends, and with the care mix a poor fit for the new manager, the seller engaged Blueprint to market the community for sale.