Alex Florea, Steve Thomes, Kevin Lukehart and Kory Buzin of Blueprint were engaged by a national private equity investor in its divestment of a Class-A, newer-vintage seniors housing community in King of Prussia, Pennsylvania. Built in 2021, the high-rise community offers 190 independent living, assisted living and memory care units. Despite the modern physical plant and desirable sub-market, the community was not stabilized at the time of sale. That makes for an attractive turnaround opportunity that likely drew a healthy bidding environment.
Blueprint targeted a subset of experienced and well capitalized investors, owner/operators and REITs and received multiple all-cash offers from a diverse set of bidders across the institutional investor spectrum. Ultimately, the seller transacted with a buyer group consisting of a national investor and a growing owner/operator with an existing Class-A presence in Philadelphia. No purchase price was disclosed.
