Located in the high barrier-to-entry Philadelphia MSA, Blueprint positioned the offering as a unique opportunity to acquire two private pay, cash flowing communities with management in place. The manager had maintained a stellar reputation and brand recognition in the local market.
Blueprint targeted investors that would recognize the value in building a relationship with such a premier, regional senior living provider. In addition, Blueprint presented a case for continued occupancy growth through an asset repositioning strategy driven by the high-quality service model coupled with aesthetically-focused capital improvements. The campaign successfully yielded a competitive bidding environment from a variety of investor profiles.
A very active and rapidly growing seniors housing investor emerged as the ultimate purchaser. Blueprint tactically navigated a process that addressed REIT-specific compliance involving additional properties outside of the transaction and structured a beneficial outcome for all parties.
Ben Firestone and Michael Segal led the transaction.