Done Deal: Blueprint Real Estate Capital closes a $13.6M HUD 232/223(f) refinance of Brittany House

Blueprint Real Estate Capital closes a $13.6M FHA-insured Section 232/223(f) refinance of Brittany House, an 83-unit assisted living community in Long Beach, California, three years after Blueprint served as the listing broker for its sale in 2023.

In 2023, Blueprint advised on the $13,750,000 sale of Brittany House, representing the seller and identifying Grandview Administrative Services as the ultimate buyer, when the community was operating at 52% occupancy. Following the acquisition, ownership enrolled the community in California’s Assisted Living Waiver (ALW) program and implemented operational improvements. The community is currently appraised at $20.6M, a 49.8% increase over its acquisition basis.

Brittany House: Acquisition to Refinance

With the business plan executed, ownership engaged Blueprint Real Estate Capital to replace its short-term capital stack with long-term, fixed-rate HUD financing. Proceeds from the new 35-year, fully amortizing, non-recourse loan refinanced both the acquisition financing and the partnership debt, and considerable property reserves, consolidating the property’s debt into a single permanent loan. The transaction closed on October 20, 2026.

Blueprint Real Estate Capital’s underwriting team worked through the property’s full HUD review, including delivering a firm commitment. The transaction marks Blueprint Real Estate Capital’s first closed HUD loan and demonstrates how Blueprint supports clients across the full ownership life cycle, from acquisition advisory to permanent agency financing.

“Seeing Brittany House come full circle is exactly why we built our [RM1]  lending platform. We advised on the acquisition, watched ownership transform the community through the ALW conversion, and now we’ve delivered the long-term financing to match.”

Tony Marino, Senior Managing Director HUD

About Brittany House:

Brittany House is an 83-unit assisted living community located in Long Beach, California. Constructed in 1970 as a skilled nursing facility and converted years later to a memory care-only community.

Since the acquisition in 2023, current ownership has created and implemented a stabilization and repositioning plan with approximately $500,000 in capital improvements, including: conversion and renovation of resident showers for accessibility and compliance, installation of a Wander Guard safety system to support secure units, concrete, railing, and exterior upgrades, refreshed common areas, and mechanical systems to make the property more marketable to broader assisted living residents. These improvements helped modernize the community while also expanding eligibility for CalAIM program participation.

About Blueprint:

Blueprint was founded in 2013 with a mission to elevate healthcare real estate advisory through collaboration and data. Today, Blueprint is the most active advisory firm in seniors housing and skilled nursing and a market leader within other healthcare real estate subsegments, including behavioral healthcare and medical properties.

The firm also offers dedicated capital markets support, along with HUD lending and servicing capabilities, to provide our clients with a full spectrum of comprehensive debt and equity solutions. With a proven track record of over $20 billion in transaction volume, Blueprint’s model combines broad market coverage with unrivaled analytics to deliver results.