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Blueprint arranged debt financing for an acquisition and repositioning of Peregrine Senior Living of Decatur, a 60-unit assisted living and memory care community located in suburban Atlanta, Georgia. The property was acquired by a regional operator and a private equity firm and was purchased from a national owner-operator.
Blueprint worked with MidCap Financial, LLC, which issued the loan.
MidCap funded $3,700,000 at closing toward the $5,500,000 purchase and provided an additional $2,400,000 for capital improvements, working capital and an interest reserve.
The borrower will reposition the facility and add on Memory Care units.
MidCap was selected as the financing source based upon its certainty of execution and flexible deal structure. Ben Firestone and Ryan Chase were advisors to the purchaser.
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