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AcquisitionsAssisted LivingFinanceIndependent LivingMemory CareNewsOregon

BMO Healthcare Provides $41M Acquisition Financing for Community Near Portland, Oregon

by Hayden Spiess

SHERWOOD, Ore. — BMO Healthcare’s Real Estate Finance group has provided a $41 million loan for the acquisition of The Ackerly at Sherwood, a senior living community located in Sherwood, roughly 15 miles southwest of Portland. A joint venture between an institutional investor and Merrill Gardens is the borrower. Merrill Gardens will manage and operate the property.  The Ackerly at Sherwood totals 130 units with independent living, assisted living and memory care residences.  Based in Seattle, Merrill Gardens manages more than 60 seniors housing communities across 20 states. 

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James Callister
AcquisitionsCaliforniaIdahoNewsOregonSkilled NursingWashington

CareTrust REIT Acquires $146M Skilled Nursing Portfolio

by Hayden Spiess

SAN CLEMENTE, Calif. — CareTrust REIT and a joint venture partner have acquired a portfolio of skilled nursing facilities in the Pacific Northwest for $146 million.  Comprising 911 licensed beds across 10 properties, the portfolio is located in Idaho, Oregon and Washington. The two existing tenants will continue to occupy the facilities on new, 15-year triple-net leases with extended options and annual escalators.  California-based CareTrust provided common equity and preferred equity investments totaling $141 million at closing using cash on hand and a draw from the company’s revolving credit line.  This …

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AcquisitionsAssisted LivingIndependent LivingMemory CareNewsOregon

Merrill Gardens Adds Three Communities in Metro Portland, Oregon

by Hayden Spiess

PORTLAND, Ore. — Merrill Gardens, a senior living owner and operator, has added three communities to its Oregon portfolio.  Located in metro Portland, the properties include Merrill Gardens at Cedar Mill, Merrill Gardens at Sherwood and Merrill Gardens at Hillsboro. Merrill Gardens acquired the communities as part of a joint venture with PGIM.  An ownership group led by Rembold sold the Cedar Mill and Sherwood properties. Built in 2016, Merrill Gardens at Cedar Mill in Portland totals 163,975 square feet with 147 independent living, assisted living and memory care units.  Merrill …

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AcquisitionsAssisted LivingFinanceIndependent LivingMemory CareNewsOregon

JLL Arranges $40M Acquisition Financing for Three Seniors Housing Communities in Oregon

by Hayden Spiess

EUGENE and SPRINGFIELD, Ore. — JLL Capital Markets has arranged $40 million in acquisition financing for a portfolio comprising three seniors housing communities in Oregon. Totaling 344 units, the properties are located in Eugene and Springfield.  Built between 1996 and 2006 and renovated in 2021, the communities include Evergreen Senior Living in Eugene and Timber Pointe and Woodside Senior Living in Springfield. Together, the properties offer 43 independent living, 245 assisted living and 56 memory care residences. Amenities at the communities include on-site dining, complimentary transportation, television lounges, libraries, beauty salons …

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Cedar Sinai Park in Portland
AcquisitionsAssisted LivingNewsOregonSkilled Nursing

Cedar Sinai Park Sells 246-Unit Seniors Housing Campus in Portland, Oregon

by Channing Hamilton

PORTLAND, Ore. — Nonprofit Cedar Sinai Park has sold its namesake seniors housing campus totaling 246 units in southwest Portland. Situated within four miles of downtown Portland, the Cedar Sinai Park campus comprises Rose Schnitzer Manor, a 154-unit assisted living community; Robison Jewish Health Center, a 44-bed skilled nursing facility; and the Harold Schnitzer Center for Living, a 48-bed skilled nursing facility. Built in 2016, the Harold Schnitzer Center for Living also offers adult day care services. Rose Schnitzer Manor was constructed in 1998 and 2002, and Robison Jewish Health Center …

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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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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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