The first asset is 50 units and located in Peoria, Arizona. It had been vacant since 2008. The second asset is also 50 units and located in Mesa, Arizona. It had been vacant since 2013. Looking to divest of both properties, the seller engaged Blueprint for its regional expertise.
Blueprint’s marketing strategy focused on unlocking the value of the properties with the right buyers. It leveraged its robust network of regional players and knowledge of active investment and acquisition strategies. The process yielded a competitive bidding environment and, recognizing the most motivation in two buyers, Blueprint advised proceeding with a different buyer for each asset.
The purchaser of the Peoria property is an established regional owner-operator that was looking to expand its presence. The purchaser of the Mesa property is a growing behavioral group that intends to convert the property to a drug treatment center. Blueprint was able to efficiently and concurrently facilitate the two distinct transactions, which closed just days apart.
The transactions were handled by Amy Sitzman.