Blueprint expertly navigates trying market conditions and leverages local relationships to identify well-capitalized buyer in Washington
- Tri-Cities Retirement Inn is a well-maintained seniors housing community located in a market with limited direct competition and a rapidly growing senior population.
- Blueprint’s concise marketing approach focused on presenting the property as an opportunity for an incoming investor to acquire a cash-flowing asset with significant achievable upside through increased operational efficiencies combined with targeted capital improvements.
- Blueprint’s collaborative efforts with the seller focused on identifying a reputable buyer with the goal of maximizing price and execution probability and ultimately selected a growing Washington-based owner-operator, marking their second acquisition with Blueprint over the past six months. The buyer secured an SBA loan at roughly 85% LTV through First Interstate Bank and will benefit from economies of scale already having two communities in the Tri-Cities area.
- The exiting owner worked diligently and in good faith amid the COVID-19 pandemic by testing residents and staff continuously to ensure minimal disruption for the incoming buyer, only having one reported case throughout the transition.
- Blueprint navigated the seller through multiple extensions to closing due to the pandemic as well as assisted the acquirer in obtaining attractive financing to ensure a mutually beneficial outcome for all parties involved.