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Prior to engaging Blueprint, the seller had gone through a series of transactions to restructure a regional portfolio. One asset remained from the larger portfolio, and Blueprint was tasked with maximizing value for its client through a targeted exit strategy.
Blueprint conducted a marketing campaign that posed upside on a nearly-stabilized asset with an exceptionally attractive HUD debt in place. Blueprint confidentially approached a select few prospective purchasers and the process yielded five competitive offers, all of which significantly exceeded the outstanding principle balance of the existing loan. Ultimately, Blueprint identified the most motivation in a regionally focused owner-operator with a depth of experience doing business in the state. Blueprint worked with the buyer to press through the HUD assumption process, garnering approval in just 45 days.
The purchase price was $18,750,000 or approximately $104,000 per bed.
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