Blueprint’s Behavioral Healthcare and Seniors Housing Team worked together to sell a seniors housing asset in Bremerton, Washington, on behalf of its nationally recognized healthcare REIT owner. The property was identified as an ideal candidate for either a behavioral healthcare provider, based on strong demand and reimbursement in the state, or a strategic regional seniors housing operator that could use economies of scale in the region to turn around operations.
So, Blueprint deployed a dual marketing campaign receiving offers from both behavioral and seniors housing operators. However, a large regional seniors housing operator, with which Blueprint has worked previously, ultimately secured and closed the transaction.
With so many transactions still getting tripped up these days with difficulties in obtaining financing, identifying an acquirer with a proven closing track record was a main focus of the buyer vetting process. Offers from both behavioral- and seniors-focused groups helped create a market for best-in-class pricing for the asset, too. But the purchase price was not disclosed.
