The seller was facing recent operational challenges that led to occupancy rates of approximately 73% when the sale process started.

However, El Paso is among the fastest growing metropolitan statistical areas in the country. Despite its lower-than-average occupancy numbers, the community had developed and maintained a strong reputation in the local marketplace, indicating the building had a clear and identifiable upside.

Blueprint's extensive track record in El Paso and strong relationships with investors seeking seniors housing opportunities in the metro area led to a highly targeted marketing process. Blueprint successfully identified and selected a winning bidder: Palatine Capital Partners.

Palatine is a Miami, Florida-based real estate private equity firm with $1.3 billion in assets under management. The company's purchase of Royal Estates is a strong indicator of its aggressive push to expand its senior living portfolio.