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“Tequesta Terrace is a great addition to Alta’s portfolio,”
said Douglas Brawn, Principal of Alta Senior Living.
“This community was the sole Florida asset of the previous New England-based operator and we’re excited to give it the time and attention it deserves to unlock its full potential.”
Located just north of Jupiter in the popular retirement destination, Village of Tequesta, Tequesta Terrace is a 100-unit assisted living and memory care community built in 2001.
A New England-based owner-operator with a single community in Florida originally engaged Blueprint in the spring of 2020 to strategically exit the state and allow for focus on New England operations.
Through a targeted and confidential sale process, Blueprint successfully marketed the asset to incoming investors and regional operators as an opportunity to streamline operations and build census in the competitive Palm Beach County market.
After electing to pull the property from the active marketplace during the peak of the COVID-19 pandemic, Blueprint sourced Alta Senior Living, a local owner/operator with headquarters in West Palm Beach, FL and Santa Monica, CA as a purchaser who recognized the property’s upside amidst the challenging market environment.
With an ability to efficiently transition operations of the community and structure its debt and equity, Alta differentiated itself as an operator-buyer and closed the transaction on a tight timeline, within the calendar year.
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