A Missouri-based real estate developer engaged Blueprint to facilitate its membership buyout of a joint venture partner. Brooks Blackmon, Ben Firestone and Lauren Nagle handled the transaction.
Four years ago, the firm was brought on to raise capital, ultimately sourcing an institutional capital partner to develop a private pay seniors housing community in the St. Louis, Missouri MSA. The Class-A community, with more than 150 independent living, assisted living and memory care units, opened its doors in January 2024, stabilizing after the lease-up period. At the time of recapitalization, the asset was generating approximately $3.7 million of annualized EBITDAR with an operating margin over 30%.
The developer/owner added the property to its existing portfolio of high-quality communities across the Midwest through the purchase of a majority interest in the JV. The operator remained in place.
