The phrase “it’s not personal, it’s just business,” doesn’t always apply. Sometimes it’s both. That was the case with Ben Firestone’s (of Blueprint Healthcare Real Estate Advisors) latest sale, which was sourced by his 90-year old grandfather. Still involved in the real estate business and showing up to work every day at 90 years old, Ben’s grandfather knew of a friend who owns a paper company in Houston, Texas but also recently decided to build a 98-unit assisted living/memory care community in the area, hiring a third-party manager at the same time.
The lead paid off, as Mr. Firestone was able to sell the community (still in lease-up and 70% occupied at closing) to a private equity firm and regional operator. We wonder if granddad got a finder’s fee.