FULLERTON, CALIF. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Richman Gardens, a standalone memory care community in the Orange County city of Fullerton.
A joint venture between a REIT and a national operator sold the community as part of a larger portfolio disposition strategy. A Los Angeles-based owner-operator acquired the property for an undisclosed price.
The buyer plans to implement a substantial renovation of the community, as well as implement operational changes to reduce expenses. This is the company’s first Orange County acquisition.
Blueprint’s Jacob Gehl, Ben Firestone and Scott Frazier handled the transaction.