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A national developer/investor engaged Blueprint to maximize value on the sale of two Class A Assisted Living and Memory Care communities located in two separate submarkets within the Philadelphia MSA
Opened in 2016 and February 2020, respectively, the two communities are approximately 10 miles apart, comprise 200+ units of Assisted Living and Memory Care, and offer complementary asset profiles

While the smaller, 2016-vintage community had never fully stabilized, it had maintained modest in-place cashflow and showed positive momentum through launch. The larger community, which opened February 2020, had never fully recovered from its COVID-driven lease-up challenges but showed encouraging margin potential even at lower occupancies

The ownership group decided to pursue a strategic sale of the communities to both de-lever and accelerate the wind-down of the maturing fund holding these communities

Balancing the attractive scale and quality of the offering, offset by it’s true value-add profile in a challenging capital markets environment, Blueprint’s marketing process was inclusive but focused on established owner-operators with strong capital relationships and investors able to buy with low/no conventional leverage

Through a comprehensive marketing effort, Blueprint received an array of both asset-level and portfolio bids and was able to arrive at a portfolio bid that offered an optimal blend of execution speed and certainty, flexibility, and pricing from a joint-venture between Persimmon Ventures and Capital Senior Ventures

Seller, Blueprint, and the incoming buyer group worked hand-in-hand to successfully close the transaction through a period of elevated uncertainty in the broader M&A market as well as a variety of deal-specific operational and execution challenges


Keeping it Sunny in Philadelphia

Blueprint advises national investor on the sale of two newer vintage, Class A communities in the Philadelphia MSA

Alex Florea

Kory Buzin

Steve Thomes

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