Despite being the newest, nicest product in the market, the community experienced a drawn-out lease up through its first two years in operation, falling short of the critical mass necessary to normalize staffing, marketing, and other operational expenses, ultimately impacting its ability to stabilize from an NOI perspective.

Blueprint approached a targeted list of qualified investors, highlighting the opportunity to acquire a high-quality physical plant poised to stabilize in relatively short order on the strength of the submarket’s supply/demand fundamentals and the quality of the surrounding demographics.

Through a comprehensive, multi-round marketing effort, Blueprint received multiple offers from qualified bidders, including national investors, regional owner-operators, and the in-place tenant, Springpoint Senior Living, who was as bullish on the community’s future potential as anyone in the field.

Leveraging the feedback derived from its highly competitive process, Blueprint negotiated mutually agreeable terms for Springpoint to acquire the fee simple interest from Ownership, solving for Ownership’s desire to exit the asset, Springpoint’s desire to get out from under the onerous lease payments, and for both parties to close expeditiously without the need to fully diligence and transition existing operations.

Blueprint remained intimately involved throughout the entirety of the process by working with all stakeholders to facilitate definitive agreement negotiations, manage due diligence, and support Springpoint’s financing efforts, culminating in a mutually beneficial and efficient transaction.