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Initially engaged to raise capital four years ago, Blueprint conducted a successful marketing campaign to source an institutional capital partner to develop a private pay seniors housing community located in the St. Louis MSA. The Class-A community, comprised of over 150 units of independent living, assisted living, and memory care, opened its doors in January 2024.
As the community leased up, the investment seasoned. At the time of recapitalization, the asset was generating approximately $3,700,000 of annualized EBITDAR with an operating margin of greater than 30%.
With the purchase of majority interest in the JV, the developer/owner adds the community to its existing portfolio of best-in-class communities across the Midwest, and the top-tier operator remained in place.
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