WASHINGTON — The Zett Group, led by Blake Bozett, has arranged the sale of a 60-unit assisted living and memory care community in Central Washington. The seller was an owner-operator that ran the community for 33 years. A Seattle-based owner-operator acquired the property for an undisclosed price in an all-cash deal. Randi Nathanson and Parisa Zarelli of Lane Powell PC helped navigate the complexities of the transaction.
VANCOUVER, Wash. — JLL Capital Markets has arranged the $28 million sale of Van Mall Retirement, a 191-unit senior living community in the Portland, Oregon, suburb of Vancouver. JLL represented the seller, Lytle Enterprises, and procured the buyer, a regional Pacific Northwest owner-operator. In addition, JLL procured acquisition financing from a regional bank on behalf of the buyer. The property is adjacent to the Vancouver Mall and approximately five miles from downtown Vancouver and 10 miles from Portland International Airport. Additionally, the property is located close to Interstate 205, State Route …
BELLEVUE, Wash. — Watermark Retirement Communities and Alliance Residential Co. have completed construction of a new independent living tower at Watermark at Bellevue in the Seattle suburb of Bellevue. The community now offers a continuum of care, with its existing assisted living and memory care spaces. The property features 110 assisted living apartments and 26 memory care units. The expanded Watermark at Bellevue, now totaling 360,000 square feet, spans an entire city block. The 155-unit, 22-story independent living tower features studios, one-bedroom and two-bedroom apartments. Watermark at Bellevue is adjacent …
WASHINGTON and IDAHO — Capital Funding Group (CFG) has provided a HUD financing package totaling $42 million. The package included three loans supporting the refinancing of existing bridge loans for three skilled nursing facilities: Tim Eberhardt and Ava Julio originated the transaction. The borrower was not disclosed.
TACOMA, Wash. — First Citizens Bank, through its healthcare finance business, has provided a term loan to refinance GenCare Lifestyle Tacoma at Point Ruston, a 159-unit senior living facility in Tacoma. The borrower is a joint venture led by Harrison Street. The same joint venture with PMB LLC served as the facility’s original developer, with GenCare Lifestyle, another joint venture partner, as the facility operator. The amount of the financing was not disclosed.
LYNNWOOD, Wash. — IRA Capital, a California-based private equity firm, has acquired Quail Park of Lynnwood, a 253-unit, Class A property in the Seattle suburb of Lynnwood. Quail Park is spread across 15 acres and developed in two phases in 2013 and 2020. The property offers independent living, assisted living, “enhanced assisted living” and memory care. IRA made the acquisition in an all-cash deal alongside an institutional joint-venture partner. The new owners plan to invest in updates to common areas and amenities. The seller and price were not disclosed.
MERCER ISLAND, Wash. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 50-unit assisted living and memory care community in Mercer Island, located in Lake Washington just east of Seattle. The property was built in 1990. Its name was not disclosed. The seller was a private real estate fund. The buyer is a Northwest-based owner-operator looking to expand its portfolio in Washington. The new owner plans to remodel the community Jason Punzel and Daniel Geraghty handled the transaction for SLIB.
KIRKLAND, Wash. — The Cogir Family of Companies has completed work on Cogir of Kirkland, a 76-unit independent living and assisted living community in Kirkland, a suburb east of Seattle. Located in the city’s Lakeview neighborhood, the community offers units ranging from 375 to 475 square feet. Cogir will hold a ribbon cutting on June 20 at the property.
BELLEVUE, Wash. — Koelsch Communities has neared completion of Belle Harbour, a seniors housing community in Bellevue, a suburb of Seattle. The developer expects to open the $93 million project this summer. The campus comprises The Park at Belle Harbour, an assisted living community, and The Inn at Belle Harbour, a dedicated memory care community. Encompassing nearly three acres, the boutique campus features 145 suites across both buildings, with the assisted living community containing 73 private studios, one-bedroom and two-bedroom units. The memory care building has 72 suites ranging from …
SEATTLE — Aegis Living has opened Aegis Living Laurelhurst in the Laurelhurst neighborhood of Seattle, near the University of Washington (UW). The six-story building features 147,911 square feet of space and 136 assisted living apartments. Aegis Development LLC is the developer, Ankrom Moisan Architects is the architecture firm and Exxel Pacific is the general contractor. Aegis Living Laurelhurst is Aegis’ 38th community and the second one to open this year.
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