DONE DEAL:
Orange Is The New…
Blueprint is pleased to announce the successful sale of a 148-unit independent living community in Costa Mesa, California. Situated adjacent to Newport Beach, Irvine, and Huntington Beach, the 1990 built community is located in the heart of Orange County. The seller, a locally-based family with various real estate investments, acquired and operated the community since 1995. Given various repositioning possibilities, which ranged from multifamily conversion to higher acuity seniors housing uses, Blueprint created a strategic disposition plan in order to maximum leverage in the marketplace.

The opportunity to acquire a seniors housing asset in a high barrier-to-entry market, while being able to reposition and improve upon operational and financial performance, posed significant upside to local, regional, and national investors. At the time of sale, the community was 68% occupied, generating approximately $2,500,000 in total revenue and $425,000 in EBITDAR. A competitive bidding process included over 15 qualified offers, with an East Coast based real estate private equity firm emerging as the winning bidder. The buyer will team up with an Orange County based seniors housing firm to operate the community.

The purchase price of the facility was $25,000,000, representing approximately $169,000 per unit.

Jacob Gehl and Gideon Orion were the lead advisors on the transaction.

LEAD ADVISORS
Jacob Gehl
Senior Managing Director, Founding Partner
(310) 893-7182
jacob@blueprintHCRE.com
Gideon Orion
Director
(310) 893-7183
gorion@blueprintHCRE.com