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AcquisitionsAffordable HousingDevelopmentFinanceKeyBankNewsOregon

KeyBank Provides $67M Acquisition Financing for Grace Peck Terrace Apartments in Portland, Oregon

by Jeff Shaw

PORTLAND, Ore. — KeyBank Community Development Lending and Investment (CDLI) has provided $67 million for the acquisition and rehabilitation of the Grace Peck Terrace Apartments, an affordable seniors housing property in Portland. Grace Peck Terrace features 95 one-bedroom units for residents age 62 and older or disabled persons earning no more than 60 percent of the area median income (AMI). The borrower, Home Forward, is a developer, owner and operator of more than 9,500 affordable units in Portland and its surrounding counties. KeyBank’s CDLI group arranged a $27.2 million construction …

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AcquisitionsIndependent LivingNewsOregon

Cushman & Wakefield Arranges $35M Sale of Crescent Park Independent Living Community in Eugene, Oregon

by Jeff Shaw

EUGENE, Ore. — Cushman & Wakefield has arranged the sale of Crescent Park, a 119-unit independent living community in Eugene. Built in 2014, the community is a three-story, 116,000-square-foot community on 5.7 acres. Inspired Healthcare Capital acquired the asset for $35 million. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig and Dan Baker represented the seller, an investment management firm with a focus on alternative assets including seniors housing. “Crescent Park showed exceptional stabilized performance throughout the pandemic and closed at the original contract price despite challenging capital markets,” …

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AcquisitionsIndependent LivingNewsOregon

Cushman & Wakefield Brokers $57.8M Sale of The Alexander Bend Independent Living Community in Bend, Oregon

by Jeff Shaw

BEND, Ore. — Cushman & Wakefield has arranged the sale of The Alexander Bend, a 136-unit independent living community in Bend. Opened in late 2019 and representing the city of Bend’s newest independent living offering in over 10 years, The Alexander Bend features 3.1 acres of adjacent land. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard represented the seller, BPM Real Estate Group, in the transaction. The buyer was Touchmark, which renamed the community Touchmark at Pilot Butte and will operate it alongside Touchmark …

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CCRCFinanceNewsOregon

Ziegler Arranges $42.4M Refinancing for Rose Villa in Portland, Oregon

by Jeff Shaw

PORTLAND, Ore. — Ziegler has arranged a $42.4 million Cinderella bank placement, as well as a $7 million taxable revolving line of credit, for Rose Villa, a continuing care retirement community in Portland. Situated on 21.5 acres, the community currently features 261 independent living homes, 16 nursing beds and 16 residential care beds. In addition, Rose Villa’s Phase III project adding 41 new independent living homes and a replacement supportive care neighborhood has come online with move-ins beginning in July 2022. Phase III was fully presold. Truist Bank will provide …

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FinanceNewsOregonWashington

Berkadia Provides $48M in Financing for Three Communities in Pacific Northwest

by Jeff Shaw

WASHINGTON and OREGON — Berkadia Seniors Housing & Healthcare has provided $48 million in combined financing for three seniors housing communities in Washington and Oregon. Steve Muth secured the transactions. The first deal was a $27 million, sub-60 percent loan-to-value-ratio loan with a 10-year, interest-only term through Freddie Mac. Built in 2015 in Washington, the seniors housing community features 105 beds and was 92 percent occupied at the time of the refinancing. The second transaction was a $16.2 million acquisition bridge loan for an assisted living and memory care community …

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DevelopmentNewsOregon

Anthology, Formation Plan 206-Unit Community in Beaverton, Oregon

by Jeff Shaw

BEAVERTON, Ore. — Anthology Senior Living, the dedicated seniors housing platform of CA Ventures, has entered into a joint venture partnership with Formation Development Group to build Anthology of Beaverton, a 207,169-square-foot senior living community in Beaverton. Anthology expects to deliver the community in second-quarter 2024. Situated on a 5.5-acre parcel outside of Portland, Anthology of Beaverton will feature 206 luxury independent living, assisted living and memory care units. The community is located near the Tanasbourne shopping district, which includes a Whole Foods, Starbucks and Macy’s, in addition to other shopping …

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DevelopmentNewsOregon

SLIB Negotiates Sale of Seniors Housing Development Site in Woodburn, Oregon

by Jeff Shaw

WOODBURN, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a development site in the Portland suburb of Woodburn. The site consists of approximately 8.9 acres of land, and is entitled for 98 units of seniors housing.  An Oregon-based development group acquired the property for an undisclosed price. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction. 

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FinanceIndependent LivingNewsOregon

CBRE Arranges $33.1M Refinancing for MorningStar of Hillsboro in Oregon

by Jeff Shaw

HILLSBORO, Ore. — CBRE National Senior Housing has arranged $33.1 million in financing for MorningStar of Hillsboro. The borrower is a joint venture between Artemis Real Estate Partners, MorningStar Senior Living and American Capital Group. ​Situated on a 1.35-acre parcel, the community comprises 142 independent living units. The property recently opened its doors. The operator is MorningStar. The property is less than a mile north of Kaiser Permanente Westside Medical Center, a 126-bed hospital that serves the greater Hillsboro and Beaverton suburbs. Additionally, half a mile north of the community …

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AcquisitionsNewsOregonSkilled Nursing

SLIB Brokers Sale of 38-Unit Cornerstone Care in Portland, Oregon

by Jeff Shaw

PORTLAND, Ore. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Cornerstone Care Option, a 38-unit, 56-bed skilled nursing facility in Portland. The community was originally built in 1955 on 7.3 acres, with renovations in 2006. The 98,700-square-foot asset was 98 percent occupied. The seller was a local owner-operator looking to retire from seniors housing. A regional group based in the West acquired the property for an undisclosed price. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.

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