top of page
The underlying portfolio of communities spanned approximately 1,200 units across eight states. Prior to the sale, all of the communities securing the notes transitioned to a new, national operator as a part of a larger corporate wind down of the borrower. Individual performance at the communities varied notably throughout the portfolio, however, on a consolidated basis the portfolio was roughly 70% occupied and generated revenue of approximately $50 million.
Blueprint approached a select group of investors with a strategy to demonstrate that the unencumbered value of the assets exceeded that of the notes’ value, drawing strong interest to the opportunity.
Ultimately, the notes were purchased for their approximate par value, including accrued interest, by a private asset-based lender. The deeds were delivered to the buyer at the time of closing. The seller was a national financial services company.
bottom of page