The Terraces of Roseville provides independent living, assisted living, and memory care services. The community was built in 1987 and sits on a 4.10-acre parcel. The Terraces of Roseville was owned by a New York based private investment group and operated by Westmont Senior Living. Blueprint was exclusively retained by a court-appointed trustee to conduct a § 363 Sale.
Though operationally stabilized, Blueprint strategically positioned The Terraces of Roseville as a value-add opportunity. Blueprint identified that a savvy investor, in addition to purchasing the asset to emerge from bankruptcy, could reposition the community within the Roseville marketplace. This repositioning includes capital investment at the property may also include a substantial expansion on the site as well as adjacent 1.3-acre parcel. The buyer was a California-based privately held real estate investment firm who kept Westmont Senior Living in the venture as the operator. Blueprint process yielded a purchase price of $39,000,000, equal to approximately $197,000 per unit and a cap rate of 6.8% based on in-place operating income.
Christopher Hyldahl was the lead advisor on the transaction and was supported by Gideon Orion and Mike Segal.