Blueprint conducted an extensive marketing campaign targeting national seniors housing investors and regional operators in the Pacific Northwest. Macklyn Place was initially included as part of a larger portfolio offering in conjunction with other non-core seniors housing assets in the region; however, the asset was ultimately acquired separately by a regional operator/developer based in Oregon. Macklyn was positioned as a value-add play in which an operator more well-versed and familiar with the local market could unlock substantial value. The buyer is likely to convert the community to offer higher levels of care including providing secure memory care services to residents with Alzheimer’s and other types of dementia.
The purchase price was $1,050,000, or approximately $30,000 per unit.
Ben Firestone, Jacob Gehl and Trent Gherardini were the lead advisors on this transaction.