Owned and developed by Missouri-based O’Reilly Development Companies, The Boulevards Portfolio included two fully stabilized communities that boasted a 75+ person waitlist. The Boulevard Senior Living at St. Charles consists of 180 units and opened in 2018 while The Boulevard Senior Living at Wentzville consists of 139 units and opened a year later.

At the onset of the COVID-19 pandemic, ownership engaged Blueprint to direct the transaction and, at the emergence of the pandemic, relied on Blueprint’s expertise to time the sale. Blueprint continued to work closely with ownership to understand key objectives and underlying motivation to sell.

Heeding Blueprint’s guidance, the seller elected to commence the marketing campaign in May with Blueprint highlighting the portfolio’s stable performance, exceptional asset quality, and Arrow Senior Living’s remarkable operational track record.

Blueprint conducted a highly targeted process, limiting outreach to a preselected group of acquirers known to be active amidst the current environment. Despite market headwinds, Blueprint generated considerable interest and ultimately procured five competing offers within weeks.

The selected acquirer is Kayne Anderson Real Estate, and the acquisition strategically grows its joint venture relationship with Arrow Senior Living.