SmartStop's Next Stop: Seniors Housing
Sale of a portfolio consisting of 294 units located in the greater Salt Lake City, Utah area
Blueprint was engaged to identify a buyer that met all of the seller's objectives in the sale-manage back transaction
The portfolio includes three, best-in-class assisted living communities with strong historical occupancies. The seller was looking to transfer ownership of the assets but stay on as operator.
Blueprint’s extensive knowledge and relationships with investors seeking seniors housing opportunities in the region led to a highly-targeted marketing process that yielded SmartStop Asset Management, LLC (SmartStop) as the winning buyer. SmartStop, a diversified real estate company with a proven track-record primarily in self-storage assets, was selected for its offer that brought the optimal combination of transaction price and execution probability. The acquisition marks SmartStop’s entry into the seniors housing space.