DONE DEAL:
Catch and Re-Lease
Catch and Re-Lease
Blueprint is pleased to announce the successful re-leasing of two California assisted living facilities totaling 232 units. Blueprint was engaged by the landlord, a publicly traded REIT, to run parallel processes to either sell or source a replacement tenant for the properties. The existing lease with the tenant was expiring and there were no plans to renew.
Blueprint orchestrated a competitive marketing process utilizing its analytical resources, relationships, and regional transaction experience. The process resulted in proposals from reputable equity groups and regional operators in the space. Ultimately, the landlord decided to negotiate a lease with an operator who is also an existing tenant.
Blueprint was heavily involved in the documentation, due diligence, and licensing stages of the transaction, ensuring a smooth closing and transition.
The transaction team consisted of Jacob Gehl, Humair Sabir, and Scott Frazier.
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