DONE DEAL:
Legacy Lives On in Lancaster Village
Sale of 190-unit seniors housing campus in Salem, Oregon

Blueprint completes sale of 190-unit seniors housing campus located in Salem, Oregon, leveraging the seller’s proactive response to the COVID-19 pandemic

  • The seniors housing campus includes 94 independent living units, 22 cottages, and 72 assisted living units generating an impressive $2.4 million in EBITDAR at a 30% profit margin at the time of marketing
  • Year-over-year occupancy was 97% and only slipped to 94% amid COVID-19 move-in restrictions
  • Buyer and seller worked collaboratively and proactively to test residents, staff, and surfaces for COVID-19; there were no reported cases at the campus through closing
  • Blueprint’s concise marketing approach resulted in the procurement of several qualified prospects, creating a competitive bidding environment that maximized transaction probability and net proceeds for the seller
  • Blueprint navigated among several negotiations including an extension to closing due to the COVID-19 pandemic and an escrow holdback originally set aside for physical plant concerns and modified prior to closing to account for unexpected COVID-19 related expenses to ensure a mutually beneficial outcome for all parties
  • After many decades in the seniors housing industry, this transaction represents the ownership group’s final community, leaving behind a tremendous legacy and reputation-rich community to a best-in-class Pacific Northwest owner-operator that will capitalize on economies of scale already having two communities within one mile of the property
LEAD ADVISORS
Blake Bozett
Senior Associate
503.765.9338
bbozett@blueprintHCRE.com
Dan Mahoney
Managing Director
503.765.9348
dmahoney@blueprintHCRE.com