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Getting the Lay of the Land
Sale of a nine-acre seniors housing development site in Redding, California
Blueprint executed the transaction on behalf of a regional owner-operator
Blueprint positioned the offering as a unique opportunity to acquire a development site inclusive of building plans for a 227-unit campus constituting independent living, assisted living, memory care, and cottages. The seller made a strategic decision not to complete the development project and engaged Blueprint to run a sale process.
Through its targeted marketing campaign to active developers, Blueprint sourced multiple offers to acquire the project. Ultimately, a regional owner-operator looking to enter the California market, and with a personal connection to Redding, was selected to purchase the site. The transaction was structured in a manner that afforded the buyer time to renew entitlements and permits for the project and construction will begin in the fall. The transaction represented a successful outcome for all parties.
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