$3.10M to Yuma
Sale of 151-unit assisted living community located in Yuma, Arizona
Blueprint is pleased to announce the successful sale of a 151-unit assisted living community located in Yuma, Arizona. Blueprint was engaged by a court-appointed receiver, positioning the community as a turnaround opportunity with significant upside potential.
While the community was originally built as a limited service hotel, Blueprint successfully marketed the asset as a value-add seniors housing opportunity.
The original owner, a local non-profit, had converted the building to an assisted living community but had little experience in seniors housing operations.
The non-profit owner ran into financial trouble and was unable to complete the project. A court-appointed receiver engaged Blueprint to conduct an auction on behalf of the bondholders, and Blueprint’s structured marketing process included a stalking horse auction.
Ultimately, the prevailing bidder was found in a Phoenix-based investor that made its initial venture into the seniors housing space with its acquisition.