Blueprint in Rhythm with Cadence
Blueprint leverages its network and advises the sponsor of ‘Cadence Tracy’, a ground-up assisted living and memory care development in Tracy, CA
The sponsor is a joint venture between Summit Senior Life, a Newport Beach-based developer, and Cadence Living, a Scottsdale-based operator. Blueprint was engaged to advise and introduce the sponsor to qualified and active sources of capital in the seniors housing industry. Blueprint’s efforts and process resulted in the sponsor signing an agreement with Link Development and Medcore Partners.
‘Cadence Tracy’ is an assisted living and memory care development on a 2.8-acre parcel of land in the growing bay area submarket of Tracy. The property will consist of 101 units (77 AL & 24 MC) and be the premier luxury community in Tracy.
The site is adjacent to ‘Lennar at Tracy Hills’, a large masterplan community that includes 5,000 single-family homes, as well as 58 acres of commercial spaces, hotels, schools, and offices.
The construction of the property is expected to begin in 2022 and will be operated by Cadence. Greg Irwin of Irwin Partners was the architect.