Timeless in Tacoma
Sale of a 110-unit assisted living community in Tacoma, Washington
Blueprint's close ties to active investors in Washington State furthers community's longstanding legacy
The reputation rich and cash-flowing Northwest Retirement Assisted Living Community provides an affordable option to the area’s growing senior population.
Blueprint’s strategic marketing campaign targeted smaller owner-operators in Washington to acquire a performing asset with exceptional culture at an attractive basis.
Blueprint worked collaboratively between seller and buyer post-PSA execution to ensure a smooth transition for both residents and staff, all the while navigating through the impact of COVID-19 and a lengthened state licensure process.
The buyer, a local owner-operator, worked closely with Harvest Bank to secure financing at 85% of the purchase price.
The buyer will achieve economies of scale by integrating this community with two existing Tacoma communities, while also utilizing a unique contract with Washington’s Department of Social & Health Services for specialized dementia care.
After two decades, the seller leaves a tremendous legacy in the greater community that always put the wellbeing of residents and staff first.