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A partnership, comprised of a global private equity firm and a well-respected seniors housing sponsor, engaged Blueprint to oversee the sale of a high-performing independent living community in Orange County, CA.
The partnership purchased the struggling older vintage community through a Blueprint sales process pre-COVID and executed on a comprehensive renovation of all units and common areas.
Following the pandemic-related lockdowns in California, occupancy rebounded and averaged 97% for the 24 months before closing, with correspondingly strong NOI margins.
Blueprint’s targeted approach generated multiple competitive offers and ultimately resulted in the selection of a joint venture between the incumbent sponsor and a new entrant global real estate investment management firm as the buyer.
After the highly competitive process, both buyer and seller moved quickly, closing the deal at the agreed price and terms less than 60 days after it was awarded.
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