We recently learned that Blueprint Healthcare Real Estate Advisors not only represented the REIT owner of an Indiana community that it sold, but Blueprint Capital Markets, run by Alex Florea, secured acquisition financing for the buyer, Lloyd Jones.
Rittenhouse Village of Valparaiso, a 90-unit assisted living/memory care community built in 2009 in Valparaiso, Indiana. The property appears on National Health Investors’ most recent property list, with Discovery Senior Living serving as the operator/lessee, revealing NHI as the seller in this transaction. The historically profitable community was negatively impacted by the pandemic but started to rebound operationally.
Blueprint Capital Markets coordinated a broad outreach process that included Lloyd Jones’ existing lender relationships and Blueprint’s network to identify and target new potential lending partners. Northwest Bank was ultimately chosen on the strength of its terms, as well as its flexibility and creativity in structuring a loan for a business plan that included both capital and operating improvements in year one. The transaction closed on time despite the changing capital markets environment.
