DONE DEAL:
Effective Trades Along the Cascades
Portfolio sale of eight seniors housing communities in the Pacific Northwest

Blueprint completes sale of multi-state seniors housing portfolio located in the Pacific Northwest and closes amid industry instability initiated by the COVID-19 pandemic

  • The portfolio included a regional cluster of eight private pay assisted living assets located between Oregon and Washington representing 321 total units
  • The offering posed an opportunity for the incoming operator to build upon an existing regional platform while taking advantage of operational efficiencies already in place
  • Blueprint’s rigorous marketing approach resulted in the procurement of over 10 offers ranging from single property acquisition proposals to full portfolio offers from a diverse buyer pool that each had a unique vision for the properties
  • With Blueprint’s guidance, the client ultimately selected as buyer a joint venture between a sophisticated Arizona-based private equity firm and a reputable Oregon-based owner-operator
  • Upon PSA execution, Blueprint functioned as the intermediary between seller and buyer which included creatively navigating a COVID-19 related material change in lender reserve requirements to ensure a positive outcome and efficient path to closing
  • The buyer group intends to reposition the assets, depending on market demand, to include memory care while also accepting a limited amount of Medicaid, allowing for a more diverse resident population to increase occupancy and overall profitability while maintaining exceptional care
LEAD ADVISORS
Amy Sitzman
Senior Director
310.893.7188
asitzman@blueprintHCRE.com
Dan Mahoney
Managing Director
503.765.9348
dmahoney@blueprintHCRE.com
Blake Bozett
Senior Associate
503.765.9338
bbozett@blueprintHCRE.com