The 183-unit community boasted year over year occupancy of 90% or greater and current blended RevPOR of $6,750. The 58-unit community improved occupancy into the 85% range during the marketing process and mid to high teens operating margins. Both communities are well located in high traffic areas of the highly desirable Beaverton submarket of Portland.

Blueprint’s two-pronged marketing strategy generated multiple competitive portfolio offers and several targeted single asset offers. Through a buyer interview process, the seller ultimately selected a portfolio offer from The Springs Living that matched culture and a commitment to honoring the exiting family’s legacy.

The Springs Living, in partnership with a national private equity investor, intends to renovate both
communities and fully integrate them to fill out their existing footprint in the greater Portland MSA.

Blueprint’s Capital Markets team successfully sourced the acquisition financing on behalf of the buyer. After running a competitive process that led to several term sheets, a national lender ultimately prevailed through their strong pricing and terms.

Blueprint’s extensive knowledge of the PNW market and strategic advisory approach guided the exiting family through all aspects of the transaction. Year-to-date, Blueprint is on track to close ~$400 million in sales and financing activity in Oregon.