Blueprint Announces Two Deals in the Western U.S.
Two seniors housing deals were announced in the western United States by Blueprint Healthcare Real Estate Advisors, and neither buyer plans to keep operating the properties as seniors housing. Amy Sitzman, Giancarlo Riso and Ben Firestone kicked things off with the sale of an independent living community in the Southwest. Built in the late-1980s with a more recent renovation, the community features more than 130 units. The owner had invested significant equity into the physical plant, and operations were trending positively. They decided to sell the community to a multifamily company that had purchased another property of the seller’s in mid-2021, also with the help of the... Read More »
Blueprint Advises SNF Portfolio Sale in Ohio
Blueprint Healthcare Real Estate Advisors’ Connor Doherty, Ryan Kelly and Christopher Hyldahl represented the seller of a five-facility skilled nursing portfolio. Located in northwest Ohio with one facility located southeast of Columbus, the facilities were constructed throughout the 1980s and 1990s. The private equity seller chose to strategically exit the facilities after purchasing them as part of a larger portfolio transaction in 2017. Their operating partner will also be exiting the portfolio. The facilities have struggled with occupancy recently but were ultimately purchased by an Ohio-based regional owner/operator looking to capitalize on the previously announced Ohio Medicaid rate... Read More »
Blueprint Facilitates AL Sale in Florida
Ben Firestone, Lauren Nagel and Michael Segal at Blueprint Healthcare Real Estate Advisors recently facilitated the sale of a Jupiter, Florida-based senior living community. Built in 2001, Village of Tequesta, Tequesta Terrace is a 100-unit assisted living/memory care community. It was previously owned by a New England-based owner/operator with a single community in Florida. They chose to strategically exit the state in order to focus on its New England operations. Over the next nine months, Alta Senior Living, the acquirer of the property, will invest another $2.5 million in capex to enhance the community. No purchase price was disclosed. Read More »
Blueprint Facilitates Refinancing of Two Communities
Green Lake Senior Living, a Washington State owner/operator, was able to procure a cash-out refinance on two of its seniors housing communities in the Tri-Cities area with the help of Alex Florea and Dan Mahoney at Blueprint Healthcare Real Estate Advisors’ Capital Markets group. Green Lake acquired the communities during the pandemic as value-add investments from a pair of national operators. Both were older, “C” quality communities combining for 160 beds. Green Lake was able to quickly improve performance through its regional presence and by leaning into the state’s Medicaid program. Such an improvement made a cash-out refinance a no-brainer, and Blueprint marketed the... Read More »Schedule a demo
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