Blueprint represented the seller of the property, a private partnership including a local operator. The opportunity was referred to Blueprint by one of its most trusted regional operator clients. This regional operator ultimately became the lessee in a transaction structure that included a partnership with a private real estate investment group based in Southern California as the landlord. Blueprint’s existing track record with both the operator and the investor led to a beneficial result not only for the seller but also for the other parties involved.
The purchase price was $7,200,000, which represented $150,000 per unit and an all-in cap rate of approximately 8.40%.
Ben Firestone, Jacob Gehl, and Mike Segal each played a significant role in the execution of the transaction.