Pocket Aces
Blueprint completes the sale of a two-community, 96-unit memory care portfolio in the Cleveland, Ohio MSA.
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Blueprint is pleased to announce the successful sale of a two-community, 96-unit memory care portfolio located in the Strongsville and Beachwood submarkets of Cleveland, Ohio, on behalf of a national seniors housing owner/operator. Blueprint's dedicated memory care expertise and expansive buyer network proved instrumental in running a targeted process and identifying a buyer well-positioned to unlock the portfolio's next chapter.
Constructed in 2017 and 2014, respectively, the two communities are well-located within established, high-barrier Cleveland suburbs, each surrounded by strong memory care demand fundamentals, favorable income demographics, and a fast-growing 85+ population. Both communities presented a compelling lease-up story for an incoming owner, with meaningful upside available through commensurate rate growth and completion of an in-process Medicaid certification for private units at each community. The portfolio was offered without a defined asking price, unencumbered by property-level debt, and free and clear of a management contract, providing a clean, flexible platform for a new operator to step in.
Blueprint ran a competitive, targeted marketing process that generated three offers from regional owner/operators drawn to the portfolio's scale, submarket strength, and embedded operational upside. Following a disciplined evaluation, the portfolio was awarded to a regional owner/operator with an existing footprint in Ohio, well-positioned to leverage its local operating platform to drive census, complete Medicaid certification, and stabilize both communities. Blueprint worked closely with all parties through marketing, diligence, and closing to deliver a smooth transaction and a buyer capable of carrying these communities forward.
