OUR HISTORY

Blueprint was founded in 2009 by Seattle real estate veterans Mark Knoll and Dan Duffus to help local builders develop and finance small-scale residential housing. The simple idea was to create a better lending model—along with a technology platform and trusted brand—to serve the Seattle market.

The first (and obvious) part of our thesis was clear: That community banks have significant challenges lending to small-scale builders due in large part to new constraints under Dodd-Frank legislation and stricter FDIC regulations—a trend that is likely to continue. The second part of our thesis was that helping local builders with more than just financing would produce better results for them as well as our investors.  This new “value-added” approach, applied to the entire project lifecycle, is the differentiating feature of Blueprint.

Building on our early success, we converted the company to a real estate investment trust (REIT) in 2013 to facilitate loan growth and develop rental property for our portfolio. Today, we are proud to have become Seattle’s leading REIT with the lowest loan default rate (zero) among our peer banking competitors.

Our market

Seattle is one of the most active real estate markets in the country. It provides key requirements for housing demand such as strong population, job and income growth. Within the Seattle market, we focus on urban “in-fill” development rather than suburban “tract” development. Urban housing is in high demand and more resilient to market cycles. And, recycling land in established neighborhoods reduces suburban sprawl—a much more environmentally-sustainable solution to growth.

Urban “In-Fill” Development

Urban “In-Fill” Development

Suburban “Tract” Development

Full-cycle
support

OUR SERVICES

In-fill development is dominated by small-scale, local builders. Blueprint’s innovative lending model serves this market by combining construction financing—which by itself is a commodity product—with value-added development services for an end-to-end builder solution.

Specifically, we support our customers through all four phases of the project lifecycle:  Blueprint sources projects through our agent referral network, provides competitive financing, completes the plans and permits and helps market the project during construction. This integrated, co-operative approach increases builder productivity and, in turn, reduces risk for our shareholders.

OUR REAL ESTATE HOLDINGS

In addition to lending, Blueprint develops residential income property for the REIT portfolio. Our relationship network produces many excellent opportunities for “build and hold” projects in the same urban in-fill neighborhoods that are close to transit, shopping and entertainment. Currently, we are focusing on studio apartment homes that are affordable for residents making 60-80% of the median area income. Key drivers for acquiring rental real estate are:  Income diversity, capital appreciation and building a rental infrastructure in the event that we acquire and hold real estate through a loan foreclosure.  Blueprint currently has over $100 million of apartment projects in its pipeline representing over 500 residential units.

 

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our
shareholders

Blueprint is owned by a large and diverse group of individual shareholders made up of our builder customers, management and individuals who value community investing. Our shareholders invest in the thriving Seattle real estate market through the leading real estate investment trust.

Shareholder Info

the blueprint team

Blueprint is externally managed by Blueprint Capital Services, LLC. The founders, senior management and key support personnel average over two decades of experience in construction lending, real estate development and financial management.


Co-Founders

  • Mark Knoll CEO
  • dan duffus Managing Director - Acquisitions

Finance and Accounting

  • Eric Graham CFO and General Counsel
  • Trina Mills Controller
  • Pamela Carpinelli Accountant
  • Megan Bennett Accountant
  • Jeanne Petershagen Senior Manager - Loan Operations
  • Debra Clang Office and Event Coordinator
  • Gary Petershagen Construction Inspector

Acquisition, Design and Permitting

  • Darin Granger Director of Acquisitions
  • Caleb Walters Financial Analyst
  • Dave Biddle Senior Manager - Design and Permitting
  • Lucas DeHerrera Manager - Land Use and Permitting
  • Taylor Straton Permitting Associate
  • Derry Betts Design Associate
  • Marc Divina Design Associate
  • Erik Laag Design Associate
  • Anthony Smith Design Associate

Portfolio Real Estate

  • Mike Burdo Director of Construction
  • Matt Campbell Asset Manager
  • Andrew Withnell Project Manager
  • Scott McSpadden Project Superintendent
  • Mike Sanderson Project Superintendent
  • John Dickinson Project Superintendent
  • Kyle Stenson Project Engineer