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Effective Trades Along the Cascades

Portfolio sale of eight seniors housing communities in the Pacific Northwest
Blueprint completes sale of multi-state seniors housing portfolio located in the Pacific Northwest and closes amid industry instability initiated by the COVID-19 pandemic
The portfolio included a regional cluster of eight private pay assisted living assets located between Oregon and Washington representing 321 total units

The offering posed an opportunity for the incoming operator to build upon an existing regional platform while taking advantage of operational efficiencies already in place

Blueprint’s rigorous marketing approach resulted in the procurement of over 10 offers ranging from single property acquisition proposals to full portfolio offers from a diverse buyer pool that each had a unique vision for the properties

With Blueprint’s guidance, the client ultimately selected as buyer a joint venture between a sophisticated Arizona-based private equity firm and a reputable Oregon-based owner-operator

Upon PSA execution, Blueprint functioned as the intermediary between seller and buyer which included creatively navigating a COVID-19 related material change in lender reserve requirements to ensure a positive outcome and efficient path to closing

The buyer group intends to reposition the assets, depending on market demand, to include memory care while also accepting a limited amount of Medicaid, allowing for a more diverse resident population to increase occupancy and overall profitability while maintaining exceptional care

Dan Mahoney

Blake Bozett

Amy Sitzman