Blueprint conducted an exclusive process on behalf of a private developer seeking to recapitalize a stabilized seniors housing asset. While Blueprint effectively fostered a competitive bidding environment among top industry REITs and private equity investors by way of traditional sale and sale/lease-back proposals, ownership’s objectives evolved during what proved to be a shifting market. Ultimately, ownership partnered with an investor to form a joint venture with the principal developer. This investor’s deep seniors housing investment acumen and expertise enabled it to effectively recapitalize the equity and simultaneously refinance the debt. The result of the deal translated into an attractive return and optimal outcome for all parties. Existing management was retained to operate the community by the new venture.
Ben Firestone was the lead advisor and Mike Segal played a supporting role on the transaction.