An independent owner/operator chose to strategically divest its 102-unit independent living community in a prominent suburb of Cleveland, engaging Blueprint to get the deal done. Built in the late 1980s, the purpose-built community was stabilized, cash-flowing and well occupied. Plus, there was upside through a capital deployment plan. Few of these kinds of stabilized assets are hitting the market right now, and the property received seven offers from highly credible acquirers.
The selected bidder, a private Northeast-based investor, is bringing its significant multifamily experience into the independent living sector. Blueprint, with execution support from a multifamily-focused institutional broker, guided the transaction through all aspects of negotiation and due diligence to ensure a smooth transition.
