Blueprint positioned the offering as a unique opportunity to acquire a development site inclusive of building plans for a 227-unit campus constituting independent living, assisted living, memory care, and cottages. The seller made a strategic decision not to complete the development project and engaged Blueprint to run a sale process.
Through its targeted marketing campaign to active developers, Blueprint sourced multiple offers to acquire the project. Ultimately, a regional owner-operator looking to enter the California market, and with a personal connection to Redding, was selected to purchase the site. The transaction was structured in a manner that afforded the buyer time to renew entitlements and permits for the project and construction will begin in the fall. The transaction represented a successful outcome for all parties.
The transaction was handled by Dan Mahoney and Blake Bozett.