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Blueprint was selected through a competitive process to advise on the sale of a memory care portfolio in early 2024. The portfolio included Windsong at Eola Hills, a 56-unit value-add memory care community in Oregon and Windsong at Southridge, a stabilized 56-unit private-pay community in Washington.
Both class-A properties, Oregon (built in 2015) and Washington (2019), were performing well, generating $800K and $1.4M+ in EBITDAR, respectively. Despite traditional investor reluctance towards standalone memory care community opportunities, strong buyer interest led to six offers. The sellers eventually chose a PNW-based operator partnering with a West Coast equity group, closing at an 8.6% cap rate, which equates to approximately $230,000 per unit.
Blueprint’s Capital Markets Team secured multiple financing options, with the buyer opting for a 72% LTV non-recourse fixed-rate bridge loan and a planned HUD takeout through BWE. The HUD process will begin soon for one asset, with the second following within 24 months.
For inquiries on Blueprint's Capital Markets platform, please contact Senior Managing Director, Kristen Ahrens.
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