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Memphis Belle

Sale of 155-unit seniors housing community in Memphis
Blueprint negotiates past COVID-19 with 30-day diligence period and all-cash close on behalf of a publicly traded REIT
Opened in 1990, the community consists of 125 independent living and 30 assisted living units and was operating slightly below break even

Blueprint's marketing campaign positioned the community as a heavy value-add or conversion opportunity

The highly targeted process focused on approaching investors capable of an all-cash deal

Elevation Financial Group, who plans to convert the asset to a 55+ community, was selected as the ultimate buyer

The transaction was placed under contract after the start of the COVID-19 pandemic and closed with minimal delay

Brooks Blackmon

Ben Firestone