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.