Not so Commons
Sale of Ontario Commons, a 30-unit assisted living community located in Mansfield, Ohio
Blueprint executed the sales process on behalf of a publicly-traded REIT and its tenant, a national skilled nursing operator, seeking to divest of the tenant's only assisted living community in the state
Though situated in a competitive market, Ontario Commons had been successfully positioned as the premier, affordable assisted living option. Since opening in the 1980s, it had consistently maintained stable occupancy and cash flow due in part to its enrollment in Ohio's Assisted Living Waiver Program.
Blueprint targeted local and regional prospective buyers with the value-add offering, generating interest from a well-respected, local provider headquartered in Coolville, Ohio, Alternative Living Solutions. Blueprint was actively involved throughout the transaction and assisted all parties, including the buyer's regional bank lender, to ensure a successful outcome. The buyer plans to invest in an expansion to increase the community's resident capacity.