Blueprint was retained to conduct a calculated sales process by a publicly-traded REIT, and the assets were acquired by publicly registered non-traded REIT. At the time of sale, the communities were greater than 93% occupied collectively and were generating annualized revenues exceeding $6.5 million on a consolidated basis. Blueprint maximized value by utilizing a marketing campaign that targeted regional operators and simultaneously solicited active seniors housing investors on the West Coast.
The purchase price was $23 million for the two communities, a figure that represented a blended price of $365,000 per unit.
Tim Cobb was the lead advisor on the transaction.