DONE DEAL:
Blueprint Delivers Stalking Horse
Blueprint is pleased to announce the sale of four parcels of land slated for assisted living development in California. The sale included two transactions, the first consisted of one site just over seven acres in a premier location adjacent to Del Webb Sun City of Lincoln Hills. The second transaction included the remaining three sites comprised of over 14 acres.

PDC Capital was a private equity firm based in Costa Mesa, California and specializing in EB-5 investments. In January 2017, per the order of a federal judge, PDC’s assets were placed into an SEC receivership under the supervision of Thomas Seaman and Associates. Included in the frozen assets were the four assisted living development sites.

Thomas Seaman and Associates engaged Blueprint to locate a stalking horse for its strong relationships with developers in the state. Blueprint identified Carefield Senior Living as the stalking horse bidder for the sites.

The existing first mortgagee, Lincoln MCC US, LLC, a division of MCC China, ended up surpassing the stalking horse bid during a topping bid process and acquired one site for the price of $8.7 million. The remaining three sites were purchased by Carefield Senior Living in a second transaction for the price of $6 million.

The transactions were handled by Jacob Gehl and supported by Giancarlo Riso and Scott Frazier.

LEAD ADVISORS
Jacob Gehl
Senior Managing Director, Founding Partner
(310) 893-7182
jacob@blueprintHCRE.com
Giancarlo Riso
Senior Associate
(310) 893-7184
griso@blueprintHCRE.com
Scott Frazier
Associate
(310) 893-7186
sfrazier@blueprintHCRE.com