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Opened in late 2022, the community quickly leased up with occupancy at launch in the mid-80%s and reached stabilization above 90% during the marketing process. With strong RevPORs and impressive margins, investor interest was immediate and intense.
Blueprint’s competitive process generated eight qualified offers, culminating in a transaction with a publicly traded REIT that elected to retain the existing operator. The asset set a new per-unit pricing record for the Reno MSA, underscoring the strength of both the property and the market.
Driven by a blend of cap rate compression and continually rising replacement cost, and supported by affluent, growing demographics, this “secondary” market attracted primary market attention. From LOI to close, the deal was completed in just 60 days, marking yet another seamless execution by Blueprint’s team.
Blueprint Healthcare Real Estate Advisors — delivering exceptional outcomes through insight, strategy, and execution.
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