PORTLAND, Ore. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged the off-market sale of a 99-unit,114-bed memory care community in a Portland for $25 million. This represents the second sale of the community within a 15-month period for the firm, with the first sale as part of a larger portfolio disposition of non-core assets for a public REIT. The seller was a privately owned, California-based national operator. The buyer is a growing regional owner-operator based in the Portland metro area. The Cushman & Wakefield team involved in …
HAPPY VALLEY, Ore. — CBRE National Senior Housing has arranged $60.4 million in construction financing for The Springs at Happy Valley, a senior living community to be built in Happy Valley. Situated on a 6.95-acre site, the community will feature 210 units, about half of which are earmarked for independent living and the other half for assisted living and memory care. Happy Valley is an affluent suburb approximately 10 miles southeast of downtown Portland. Aron Will, Austin Sacco and Adam Mincberg of CBRE National Senior Housing arranged the financing on …
MEDFORD, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Barnett Woods, a 70-unit independent living community in Medford, near the California border. The community was built in 1975 with a renovation in 1980. The 60,796-square-foot building sits on nearly three acres. The seller was a regional owner-operator looking to focus on higher-acuity communities. A local owner-operator acquired the property for $3.5 million and plans to remodel and reposition the asset. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.
FOREST GROVE, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Grove and The Gardens, a 92-unit assisted living and memory care community in Forest Grove, approximately 25 miles west of Portland. A family retiring from the industry sold the property to a regional owner-operator for $15.7 million. The community was built in 1996, with memory care added in 2000. The facility is approximately 63,000 square feet and is situated on approximately 2.7 acres of land plus an additional one-acre lot. The buyer plans to remodel …
KING CITY, Ore. — An affiliate of Livingston Street Capital has acquired King City Senior Village, an independent living community in the Portland suburb of King City, Oregon. This is the first West Coast addition to the firm’s active adult and independent living portfolio. The property was recently renovated. The number of units and other details were not disclosed. “We’re focused on identifying core, core-plus and light value-add communities throughout the country that facilitate the lifestyles today’s 55+ residents desire, based on our expertise in the active adult and independent …
EUGENE, Ore. — CBRE National Senior Housing has arranged a cash-out refinance for The Springs at Greer Garden, a 217-unit independent living, assisted living and memory care community in Eugene. This transaction represents CBRE’s second financing of the property. CBRE originally secured construction financing for the community in 2015. Aron Will, Austin Sacco and Tim Root of CBRE National Senior Housing arranged the refinance on behalf of a joint venture between The Springs Living and Harrison Street. The amount of the loan was not disclosed. The developers completed construction in …
PORTLAND, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Emerson House Portland, a memory care community in Portland. The property features 29 units totaling 55 bed. It was built in 1999 and renovated in 2013, now totaling 15,000 square feet on one third of an acre. A regional owner-operator existing the industry sold the asset to an Oregon-based operator for an undisclosed price. The new owner has agreed to operate the property as a COVID recovery facility for the State of Oregon. Jason Punzel, Brad Goodsell …
NORTH BEND, Ore. — Merrill Commercial Real Estate has arranged the sale of a 69-unit independent living community in North Bend. The 44,000-square-foot community was part of a senior living portfolio that went into receivership in late 2019. The property is one of four properties in the portfolio that make up a continuum of care model in the local area. The name of the property and campus were not disclosed. Mike Merrill represented the court-appointed receiver. A California-based investment group focused on the multifamily sector paid $4.1 million for the …
KING CITY, Ore. — JLL Capital Markets has arranged the sale of King City Senior Village in King City, a suburb of Portland. Focus Healthcare Partners soled the property to Livingston Street Capital for an undisclosed price. King City Senior Village is a 114-unit independent living property consisting of two living options: duplex cottages and traditional apartments. The community was built in 1986 and underwent significant renovations in 2018. The JLL Capital Markets team representing the seller includes Cody Tremper, Mike Garbers and Dean Ferris. “The property is standalone independent …
DALLAS, Ore. — Dallas Retirement Village, a seniors housing community in the Salem suburb of Dallas, has started construction of its Phase II expansion, known as Lodge Residences. The 60,000-square-foot project will complete the circle around the existing courtyard, adding 29 independent living apartments, an indoor pool, spa, fitness facilities and more. “Phase 1 was completed four years ago. Since then, we’ve continued to build a waiting list,” says Dave Parrett, the community’s executive director. “Having more apartments will make us more accessible to local seniors who would like to …