Blueprint Sells Four Assisted Living Sites in California

Blueprint Healthcare Real Estate Advisors proved they don’t need a building to sell a piece of property. When EB-5 investor PDC Capital’s assets were placed into an SEC receivership in January 2017, per the order of a federal judge, included in the frozen assets were four assisted living development sites in California.

Thomas Seaman and Associates, the receiver, hired Blueprint to locate a stalking horse bidder for the sites. Carefield Senior Living emerged as that bidder and purchased three of the sites for $6 million. The existing first mortgagee, Lincoln MCC US, LLC, a division of MCC China, ended up surpassing Carefield’s bid for one of the sites, and paid $8.7 million for it. Jacob Gehl handled the transactions, supported by Giancarlo Riso and Scott Frazier.

 

 

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