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Built in 2015 and 2016, the communities were fully stabilized in 2018 and 2019, were resilient through the pandemic, and sharply rebounded to near 100% occupancies at the time of marketing in mid-2022
Blueprint positioned the communities as “standalone memory care projects, done right” – well-run Memory Care properties that had historically achieved stabilization, maintained census, and are poised for sustained rent growth given strong positioning within their respective submarkets
Leveraging the firm’s deep understanding of the current transaction market for standalone Memory Care communities, Blueprint conducted a targeted marketing campaign to local, regional, and national seniors housing operators and investors with a proclivity towards the specialty asset class
After receiving multiple offers, the seller selected a Texas-based owner-operator focused on standalone Memory Care in the region who then retained Blueprint Capital Markets to assist in their debt placement efforts
Blueprint Capital Markets worked closely with the buyer to canvass a targeted list of primarily local and regional banks, as well as some national debt funds, to maximize the buyer’s optionality and evaluate different capital structures. Ultimately, the buyer chose to move forward with an existing Bank relationship who was able to offer attractive economics and structural flexibility
Blueprint and Blueprint Capital Markets worked hand-in-hand with the Buyer and Seller to close through significant capital market headwinds
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