Blueprint Healthcare Real Estate Advisors advised a client on the sale of a fully entitled parcel of land in Minden, Nevada, near Lake Tahoe. Located adjacent to Carson Tahoe Minden Medical Center, which is operated by the region’s largest healthcare provider, Carson Tahoe Regional Health, the five-acre parcel had been issued a special use permit by the Douglas County Planning Commission in 2017 allowing for the development of a seniors housing community of up to 130 total units.
The surrounding market consisted of older communities, more than 20 years old, and an average occupancy of over 98% prior to the pandemic. So, the potential for a new development was apparent. Amy Sitzman and Giancarlo Riso of Blueprint ultimately advised the client to move forward with a West Coast-based seniors housing developer that is affiliated with a best-in-class operator. After opening escrow in August of 2020, the deal closed in February 2023.
