Going for Gold in the Copper State
Portfolio sale of two large seniors housing campuses in Arizona comprising nearly 580 units
Blueprint successfully represents an affiliate of Senior Lifestyle Corp. and LTC properties Inc. and closes another transaction during unprecedented market conditions.
The first campus, Amethyst in Peoria, Arizona, is approximately 430 units and situated in a prime location near regional medical centers, including Banner Baywood and Banner Gateway. The second campus, Emerald Springs in Yuma, Arizona, is approximately 150 units and a leading provider of assisted living and memory care services in its local market.
Blueprint positioned the portfolio as a rare opportunity to acquire seniors housing campuses in attractive Arizona submarkets. Additionally, Blueprint successfully made the case for further upside potential for an incoming investor through targeted capital improvements.
Blueprint leveraged its unmatched relationships to target active investors to meet the seller's objective of identifying a reputable buyer that would bring both optimal value and execution probability. A privately held company based in the Midwest was selected as the buyer, who hired The Goodman Group, headquartered in Chaska, Minnesota, as the manager of the campuses.
Blueprint was engaged throughout the entire process, facilitating buyer's due diligence and assisting the seller in negotiation of deal terms leading to another successful close despite mounting challenges related to the COVID-19 pandemic.