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Blueprint is pleased to announce the sale of Park Place Senior Living at WingHaven ("Park Place"), a 206-unit seniors housing community located in suburban St. Louis, Missouri. Blueprint marketed the property on behalf of the seller, AEW Capital Management, L.P., which sold the property on behalf of AEW Senior Housing Investors, L.P. CNL Healthcare Properties purchased the asset for $54,000,000.
Originally built in 2006, Park Place was acquired in 2011 by a joint venture of AEW and First Capitol Group.
The venture was able to dramatically unlock and add value over the course of its hold period by expanding the community with the addition of assisted living units and by converting units to memory care.
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