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Prolific real estate investment and development firm, Silver Companies, built two Class A, 60-unit memory care communities through the course of the Pandemic, one located in Summerlin, Nevada and the other located in Frederick, Maryland. As the projects each approached delivery, Silver had yet to engage an operator and tasked Blueprint as its advisor to assess an array of alternative exit strategies
Blueprint assessed the marketability of the assets both as development plays and as communities in lease up under various structures with prospective operating partners. While initially an abstract mission, Blueprint identified a path by which Silver would enter into a marketable lease with a best-in-class operator in Silverado, known for its specific expertise in operating memory care communities. This effectively transformed the offering from a speculative C of O deal into a net lease investment opportunity featuring attractive yield through rental income

Through its marketing campaign, Blueprint competitively positioned the opportunity to the investment community as a multiple of contractual rent, mitigating the lease up risk. This broadened the pool of target acquirers to include REITs and other yield seeking investors amidst a relatively uncertain market environment

As it zeroed in on a REIT buyer, Blueprint worked closely with the Seller and its partner Silverado to optimize the investment structure to accommodate specific REIT requirements. Ultimately, National Health Investors, the Murfreesboro, Tennessee-based REIT, was selected as the buyer

The total purchase price was $37,500,000, representing $312,500 per unit and a yield of 7.5% on rent

Silver Companies is a national, diversified real estate investment and development firm headquartered in Boca Raton, Florida

Silverado Senior Living is a pioneering owner and operator of memory care-focused seniors housing communities nationwide, headquartered in Irvine, California

National Health Investors, Inc. (NYSE: NHI) is a real estate investment trust specializing in sale - leaseback, joint - venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical investments. NHI’s portfolio consists of independent, assisted and memory care communities, entrance - fee communities, skilled nursing facilities, medical office buildings and specialty hospitals


Silver Bullets

Blueprint skillfully facilitates sale of two newly constructed memory care communities

Ben Firestone

Lauren Nagle

Kory Buzin

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