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Blueprint was engaged by an institutional, national owner/operator to advise and facilitate the confidential strategic disposition of a large-scale, senior living campus in Bakersfield, approximately two hours north of Los Angeles. The 20-acre campus was originally developed in 1999 and provides senior living services across the care continuum, including independent living, assisted living, memory care, and skilled nursing and long-term care. The campus was well-appointed and underwent several updates and upgrades over the years.
The campus featured three large buildings catering to assisted living, memory care, and skilled nursing residents, in addition to several independent living cottage villas. As occupancy continued to climb, approaching stabilized levels, the campus operated efficiently and produced positively trending cash flow. Blueprint identified multiple paths to achieve further upside and positioned the offering in the market to showcase the campus’s potential.
Blueprint’s direct marketing campaign resulted in many competing offers to acquire the property, culminating in the selection of a public REIT as the ultimate buyer. The REIT acquirer partnered with an in-state operator that together demonstrated a history of successful CCRC acquisitions in the state. Blueprint advised the seller through each transaction phase, working closely with all parties to ensure and deliver another successful operational transition and a smooth closing process.
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