The existing asset was shuttered approximately one year ago and, as a result, went into receivership shortly thereafter. Blueprint was hired by the court appointed receiver to run an extensive marketing campaign which included a stalking horse process and auction for the sale of the asset. Blueprint was engaged by the receiver and approved by the court as the exclusive listing agent on the building and mobilized quickly to take the asset to market.

Blueprint’s marketing campaign warranted multiple stalking horse and auction offers from local, regional and national behavioral healthcare providers and investors seeking to reopen this location to provide care within Palm Beach County. Ultimately, the highest bidder and best terms were presented from a national provider and their capital partner. The transaction closed for approximately $130,000 per bed.

In addition to helping to negotiate attractive terms for the Seller, deal execution probability and timing were key components of this assignment given this was a court-ordered auction process. Blueprint’s wide-reaching provider relationships in the behavioral healthcare space coupled with their transactional experience helped solidify an attractive outcome for all parties and bring resolution to a complex process.