Blueprint conducted an extensive marketing campaign targeting several national seniors housing investors and regional operators in the Pacific Northwest. Blueprint effectively created a competitive bidding environment for the offering by approaching regional operators specifically to acquire the subject asset as well as the national investor community more globally with the allure of a larger portfolio transaction consisting of several such non-core properties in various states. Karr House was positioned uniquely in that its historical cash flows were substantial and a more hands-on operator could unlock value by restoring census and operating efficiencies. Blueprint selected a regional operator as a purchaser who fit this profile.
The purchase price was approximately $2,600,000, or approximately $65,000 per unit.
Ben Firestone, Jacob Gehl and Trent Gherardini were the lead advisors on this transaction.