Charter Senior Living managed the asset since 2018 and had truly maximized performance, both for the residents and for the respective investors. At marketing, the community was 93%+ occupied, and trailing-three-month EBITDAR margins were tremendous. Ownership engaged Blueprint to execute an exit strategy. Blueprint’s targeted process drew multiple bids from private capital and regional operators active across the Northeast and Mid-Atlantic.

The competition drove both pricing and terms in the seller’s favor, leading to the selection of a New York-based owner/operator for whom the cottage-style asset was a strategic fit. The deal was structured as an assumption of the property’s existing HUD-insured loan, which preserved attractive in-place financing for the buyer and maximized value for the seller.

In addition to the complexities of executing the HUD Transfer of Physical Assets (TPA), the parties sought to time the sale with a 1031 exchange for Buyer, requiring laser focus on several parallel work streams. The parties sequenced HUD approval, the state licensing notice period, and execution of the closing documents so they all landed in time, resulting in a successful closing.