Blueprint Capital Services LLC, an affiliate that is wholly owned by the co-founders of Blueprint, Mark Knoll and Dan Duffus, will externally manage the new entity, Blueprint Capital REIT Inc.
“Our conversion to a stock corporation and election of REIT status simplifies our capital structure while maintaining the tax efficiency of a limited liability company. It aligns all economic interests, while providing our shareholders with continued regular distributions and increased liquidity,” said Knoll. “Moreover, the REIT structure supports our growth strategy by facilitating access to additional capital sources.”
Duffus added that the new structured would enable the lender to serve more builders and “meet the growing demand for residential construction financing in our markets.”