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A national developer/investor engaged Blueprint to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities
These communities were purchased in a sizable portfolio transaction pre-COVID, under a value-add thesis contemplating operator transitions to create regional groupings coupled with the intent to meaningfully invest in renovations and repositioning

Unfortunately, the cumulative impact of COVID followed by an unprecedented rise in interest rates created meaningful headwinds to the original thesis and drove a portfolio re-prioritization, rationalization, and de-levering effort

Originally constructed in the late 1990s, this community offered 95 units of Assisted Living and Memory Care within a desirable submarket in Northern Kentucky. While the community was performing, it was not fully stable from an occupancy or margin perspective, and required certain capital enhancements to achieve its full potential

With this rationale, in tandem with the asset being a geographic outlier, ownership labeled this community as a “non-core” disposition candidate

Blueprint saw an opportunity to leverage its robust knowledge of local Kentucky marketplace and approached a well-known regional buyer who Blueprint has closed successfully with previously. Within less than a week, an offer emerged at terms attractive to seller

Seller, Buyer, and Blueprint worked closely together to close the transaction cooperatively and with no disruption to the community’s operating teams. Upon acquisition, buyer intends to invest meaningful capital dollars in the asset for both apartment and common area upgrades


One Call, That's All

Blueprint advises national investor on the sale of a performing but “non-core” AL/MC community in Fort Mitchell, KY

Alex Florea

Kyle Hallion

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