DONE DEAL:
Timeless in Tacoma
Sale of a 110-unit assisted living community in Tacoma, Washington

Blueprint’s close ties to active investors in Washington State furthers community’s longstanding legacy

  • The reputation rich and cash-flowing Northwest Retirement Assisted Living Community provides an affordable option to the area’s growing senior population.
  • Blueprint’s strategic marketing campaign targeted smaller owner-operators in Washington to acquire a performing asset with exceptional culture at an attractive basis.
  • Blueprint worked collaboratively between seller and buyer post-PSA execution to ensure a smooth transition for both residents and staff, all the while navigating through the impact of COVID-19 and a lengthened state licensure process.
  • The buyer, a local owner-operator, worked closely with Harvest Bank to secure financing at 85% of the purchase price.
  • The buyer will achieve economies of scale by integrating this community with two existing Tacoma communities, while also utilizing a unique contract with Washington’s Department of Social & Health Services for specialized dementia care.
  • After two decades, the seller leaves a tremendous legacy in the greater community that always put the wellbeing of residents and staff first.
LEAD ADVISORS
Blake Bozett
Senior Associate
503.765.9338
bbozett@blueprintHCRE.com
Dan Mahoney
Managing Director
503.765.9348
dmahoney@blueprintHCRE.com