Actually, It's Our Third Rodeo
Blueprint further solidifies its position as the market leading expert in Texas by successfully advising institutional client on third and final REO vacant healthcare asset.
The partially constructed 70-unit healthcare property was originally developed by Mainstreet and was never fully completed prior to being foreclosed upon
The property was developed to be a turnkey, purpose-built transitional care facility, and featured very similar design features to the other two properties that Mainstreet had built in Amarillo and Temple
Blueprint positioned the deal as a unique opportunity to acquire a state-of-the-art healthcare property at an attractive basis, providing an incoming investor the flexibility to own and/or operate the facility as a transitional care facility or explore alternative healthcare uses
After running a highly competitive process, Blueprint identified a sophisticated and experienced Texas-based real estate investor who will be structuring a lease with an east coast based skilled nursing operator. Upon completing construction, the property will be operated as a traditional long term care facility
The transaction price was approximately $8,700,000, or $124,285 per unit
