Blueprint facilitated the sale of a seniors housing community in Phoenix, Arizona. Amy Sitzman, Giancarlo Riso, Jacob Gehl and Dillon Rudy handled the transaction, which closed 112 days from LOI signing.
Developed in phases between 2015 and 2017, the community encompasses nine residential homes arranged in a neighborhood setting in Litchfield Park. There are 89 total assisted living/memory care units. The community accepts private pay and ALTC (Arizona Medicaid) residents and was approaching stabilized occupancy at the time of marketing. It is projected to experience favorable year-over-year rate growth given the lack of new or planned competing developments within the local market.
Multiple competitive offers were received before Blueprint advised the seller to move forward with a regional owner/operator that presented strong execution evidenced by its ability to pay in all cash, as well as its waiving diligence upon execution of the PSA.
