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CCRCDevelopmentNewsOregon

Terwilliger Plaza CCRC in Portland, Oregon Completes $105M Expansion Project

by Jeff Shaw

PORTLAND, Ore. — Terwilliger Plaza, a single-site, nonprofit continuing care retirement community (CCRC) in Portland, has completed a $105 million expansion. The new building, named Parkview, rises 10 stories and offers 127 independent living units. It represents the largest building constructed to Passive House sustainability standards on the West Coast, according to the developers. The 370,000-square-foot structure is connected to the main campus via a steel skybridge. Terwilliger Plaza can now house up to 550 residents. LRS Architects worked in collaboration with Walsh Construction Co., engineering firm PAE, and Terwilliger …

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NewsOperationsOregonPeople

The Springs Names Angelo Zwirn as Executive Director of Community in Medford, Oregon

by Jeff Shaw

MEDFORD, Ore. — The Springs Living has promoted Angelo Zwirn to executive director at The Springs at Anna Maria in Medford. He fills the role after his predecessor, Meaghan Walkup, was promoted to regional director of operations.  Zwirn trained closely under Walkup who continues to work closely with The Springs at Anna Maria, one of several communities under her oversight in her new role. As the new executive director, Zwirn is responsible for all community operations. Zwirn has served The Springs at Anna Maria for over a decade, most recently …

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AcquisitionsMissouriNewsOregonSouth CarolinaWashington

Merrill Gardens Acquires Five Communities

by Jeff Shaw

GREENVILLE, S.C.; SEATTLE; SPRINGFIELD, Mo.; TUKWILA, Wash.; and HILLSBORO, Ore. — Seattle based Merrill Gardens has added four existing communities to its portfolio, along with one new community under construction. The privately held company now operates 65 communities in 17 states. The first community is Merrill Gardens at Greenville. The newly opened independent living community features 129 studio, one- and two-bedroom apartments. Also acquired was Murano Senior Living in Seattle. The high-rise community features 243 apartments with waterfront and city skyline views. The property offers independent living, assisted living and …

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AcquisitionsNewsOregon

Ziegler Arranges Sale of 177-Unit Parkview Christian Retirement Community in Portland, Oregon

by Jeff Shaw

PORTLAND, Ore. — Ziegler, as exclusive financial advisor to the seller, has arranged the acquisition of Parkview Christian Retirement Community in Portland. Founded by members of the Columbia Baptist churches, the nonprofit Oregon Baptist Retirement Home Society opened its doors in 1944. The community expanded several times over the next 40 years. In 1987, the organization moved to its current location in northeast Portland and expanded again 10 years later. Today, the campus consists of 115 rental independent living apartments and 62 assisted living units spread over approximately six acres …

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CCRCNewsOregonPeople

Rose Villa Senior Living Board Selects Glen Lewis as CEO

by Jeff Shaw

PORTLAND, Ore. — Rose Villa Senior Living, an independent continuing care retirement community in Portland, has appointed Glen Lewis as its next CEO. The outgoing CEO, Vassar Byrd, left to take the CEO role at Kendal in December after overseeing a 10-year transformation plan at Rose Villa. Lewis joins Rose Villa after nearly 20 years in the senior living and hospitality industries, most recently as executive director at Edgewater, a WesleyLife community in Des Moines. Previously, he was executive director at an independent senior living community in Portland and Seattle-based Aegis Senior …

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AcquisitionsAssisted LivingNewsOregon

Foundry Commercial Acquires 126-Unit The Village at Keizer Ridge in Keizer, Oregon 

by Jeff Shaw

KEIZER, Ore. — Foundry Commercial has purchased The Village at Keizer Ridge, a seniors housing community in Keizer, a northern suburb of the state capital, Salem. With this acquisition, Foundry now owns 30 senior living communities totaling over 1,900 units and operates 57 senior living communities totaling over 3,800 units across the U.S. The Village at Keizer Ridge, which opened in 2016, offers 126 units of assisted living and memory care. Cascadia Senior Living, Foundry’s regional operating partner in the Pacific Northwest, will operate the community following the acquisition.  Foundry’s …

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FinanceFloridaNewsOregon

Berkadia Provides $56.6M in HUD Financing for Four-Community Portfolio in Florida, Oregon

by Jeff Shaw

FLORIDA and OREGON — Berkadia Seniors Housing & Healthcare has provided four loans totaling $56.6 million in volume through HUD’s 232/223(f) program, all of which feature the program’s maximum loan term of 35 years. In the first transaction, Ed Williams of Berkadia Seniors Housing & Healthcare closed a $14.5 million 232/223(f) HUD loan secured by a 139-bed skilled nursing facility located in South Florida for a Florida-based client. The loan refinanced a bridge loan Williams placed in 2019 and a subsequent cash-out, borrow-up originated by the senior lender in August …

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AcquisitionsNewsOregon

Blueprint Brokers Sale of Five Communities in Oregon

by Jeff Shaw

OREGON — Blueprint Healthcare Real Estate Advisors has arranged the sale of five independent living, assisted living and memory care communities in Oregon. The portfolio consists of 468 total units with communities built in the 1980s and 1990s. The portfolio generated approximately $4.8 million in EBITDAR in 2022. The buyer was Arcus Healthcare Partners, which also assumed the existing Freddie Mac loan and current operator. The seller and price were not disclosed. The Blueprint team included Dan Mahoney, Michael Segal and Ben Firestone.

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MontanaNewsOregonPeople

The Springs Living Appoints Two Regional Directors of Operations

by Jeff Shaw

MCMINNVILLE, Ore. — The Springs Living, a McMinnville-based operator, has appointed two new regional directors of operations (RDOs).  Ole Lindbo, who is new to the organization, has been named RDO of the northern Oregon region. Tim Minks, who has served as an executive director at The Springs Living for more than three years, will become RDO of the Montana region. With over 15 years of experience leading senior living communities, Lindbo comes to The Springs Living from his previous role as RDO at Sapphire Health Services in Oregon. Previously, he …

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FinanceIdahoNevadaNewsOregon

Berkadia Arranges $40.8M in Financing for Three Communities in the West

by Jeff Shaw

IDAHO, NEVADA and OREGON — Berkadia Seniors Housing & Healthcare has arranged a total of $40.8 million in financing for a skilled nursing facility in Idaho, transitional care facility in Nevada, and an independent living, assisted living and memory care community in Oregon. For the Idaho property, Jay Healy closed an $8.3 million 232/223(f) HUD loan to refinance a Berkadia and Live Oak Bank bridge loan for the asset’s acquisition. The five-star, 60-bed facility was built in 2017. The loan features an 80 percent loan-to-value ratio and 35-year term. Occupancy …

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