REBusinessOnline

Blueprint Negotiates $24.5M Sale of 104-Unit Assisted Living Community in Seattle

Foundation House is a 104-unit independent living and assisted living community in Seattle.

SEATTLE — Blueprint Healthcare Real Estate Advisors has arranged the $24.5 million sale of Foundation House, a 104-unit independent living and assisted living community in Seattle.

A local nonprofit sold the property to a Seattle-based commercial real estate firm. The sale will keep the existing triple-net lease in place with the operator.

The purchase price equates to approximately $236,000 per unit and a 6.9 percent yield on current rent.

Ben Firestone and Michael Segal of Blueprint executed the transaction with the assistance of Mike Mooney, who covers the Pacific Northwest region for the firm.

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