Blueprint Acquiring Midcap Hud Platform To Expand Services, Client Base

Blueprint Healthcare Real Estate Advisors is acquiring MidCap Financial Services’ FHA and HUD lending platform to expand its financial services.

The company has appointed longtime HUD veteran Tony Marino as senior managing director to lead its new platform, working alongside chief underwriter Ramona Mitchell, who brings decades of HUD lending experience. Blueprint will also onboard MidCap’s existing team, with the acquisition set to close on or around April 1.

Blueprint did not share the terms of the deal.

Blueprint anticipates a significant increase in HUD-eligible assets in 2026, and the deal enhances the Chicago-based company’s advisory capabilities and better positions it to serve more investors, according to Blueprint HCRE CEO Ben Firestone.

“We can provide our existing customer base more solutions, not only helping them finance the transactions that we sell, but also do refinances when they may be stuck in the crosshairs of a long-term hold,” Firestone told SHN on Thursday.

After analyzing the $4 billion in transactions from 2025, Firestone said there were over $1 billion of “HUD-eligible or HUD-optimal” transactions within its investment sales pipeline.

The effort to acquire MidCap’s platform was in the works for “a long time,” and Firestone commended the acquired team’s cooperation in due diligence leading up to the acquisition.

Firestone said the “time was right” for assisted living and memory care investors to access HUD financing given strong demographic-driven demand and sustained occupancy growth in both sectors.

“Even for those secondary locations that some institutional investors may not prefer, those buildings are becoming more stabilized than we’ve seen in a long time,” Firestone said. “We feel like there are a lot of stabilized properties, even older, vintage assisted living properties where HUD is the perfect vehicle for those assets.”

It’s also the right time to provide HUD lending solutions to assisted living and memory care providers given consolidation in skilled nursing, he said. Through the MidCap acquisition, Blueprint plans to provide acquisition financing and refinancing solutions to its client base.

Firestone said Blueprint is positioned to provide a “full service advisory experience” as opposed to a more traditional brokerage model and can use its extensive data and analytics platform to support clients.

“We think this provides our customers with more options and more services,” Firestone said. “Now it’s market expected; if you don’t have some form of mortgage banking or financing arm, it’s going to be very difficult to compete in 2026 and beyond.”

Looking ahead for the remainder of 2026, Firestone said he anticipated a “strong to quite strong” year for senior living transactions given strong demand and limited development.

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