Blueprint’s Behavioral Healthcare team advised a national behavioral healthcare real estate investor in the re-tenanting of a substance abuse treatment center in the Norfolk, Virginia MSA. The existing asset had a previously strong operating history, though was not able to be conveyed with the license intact. Despite this challenge, multiple operators showed interest, with Blueprint procuring multiple LOIs.
Blueprint identified and negotiated lease terms with behavioral healthcare-focused operators. Ultimately, a national substance abuse operator that Blueprint had previously closed with, was selected based on lease terms and execution capability. Andrew Sfreddo, Shane Harmon and Gunnar Raney handled the transaction.
