Kristen Ahrens and Pat Maloney of Blueprint facilitated the refinance of The Legacy at Highwoods Preserve. Built in 2015, the 68,281-square-foot building comprises 60 assisted living and 22 memory care units on 9.9 acres in Tampa, Florida. The borrower is a well-established owner/operator with a presence in Florida.
Blueprint Capital Markets ran a process to identify viable debt options aligned with the ownership structure and need for non-recourse financing. Ultimately, in conjunction with KeyBank Commercial Mortgage Group, Blueprint arranged a six-year, fixed-rate loan with a prominent life insurance company that allowed supplemental funding on top of the initial loan.
Blueprint, in partnership with KeyBank Commercial Mortgage Group, is now able to offer direct-to-agency financing through Fannie Mae and Freddie Mac, as well as life insurance company debt placement.
According to LevinPro LTC, in August 2021, Senior Living Investment Brokerage handled the sale of The Legacy at Highwoods Preserve to Alta Senior Living, which was established in 2021 and currently lists the community on its website. Alta purchased the asset from the developer of the building, which had its affiliate management company operating the community. It was an operational outlier and its last asset in the Southeast, whereas it focused on the Southwest, leading to divestment.
