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SAN DIEGO — Blueprint Healthcare Real Estate Advisors has brokered the sale of an 87-unit assisted living and memory care community in North County, just outside San Diego.
A publicly traded REIT sold the community to a San Diego-based owner-operator with an existing California portfolio. The name of the community and price were not disclosed.
The property was sold as a value-add proposition, as new competition in the area had lowered occupancy. The buyer intends to renovate the community and capitalize on operational synergies within its larger management platform.
Ben Firestone, Michael Segal and Scott Frazier of Blueprint facilitated the transaction.