Washington

CBRE Arranges $19.5M Financing for Harbour Pointe Senior Living in Mukilteo, Washington

by Jeff Shaw September 3, 2021

MUKILTEO, Wash. — CBRE Senior Housing has arranged $19.5 million in financing for Harbour Pointe Senior Living, a 106-unit assisted living and memory care community in Mukilteo, approximately 25 miles north of downtown Seattle. Aron Will, Austin Sacco and Adam Mincberg of CBRE Senior Housing arranged the financing on behalf of a joint venture between Capitol Seniors Housing and a large university endowment. Integral Senior Living operates the community. The community, originally acquired by the owners in 2015, sits directly adjacent to Paine Field, a once-commercial airfield that is now …

September 3, 2021

Assisted Living Finance News Washington

CBRE Arranges $10M Bridge Loan for Emerald City Senior Living in Seattle

by Jeff Shaw September 1, 2021

SEATTLE — CBRE Senior Housing has arranged $10 million in financing for Emerald City Senior Living, a 119-unit assisted living and memory care community in Seattle. The community sits six miles north of downtown Seattle within the Maple Leaf neighborhood, a burgeoning and affluent residential area of Seattle. Built in 2006 by a seniors housing architect, the community features high-end amenities. Aron Will, Austin Sacco and Adam Mincberg of CBRE Senior Housing, arranged the financing on behalf of a joint venture between Capitol Seniors Housing and a large university endowment. …

September 1, 2021

Assisted Living Development News Washington

Aegis Living Opens Kirkland Waterfront Community in Washington State

by Jeff Shaw August 17, 2021

KIRKLAND, Wash. — Aegis Living has opened its second community in 2021, Aegis Living Kirkland Waterfront in Kirkland. The 98,000-square-foot development will feature 106 units of assisted living and memory care. Aegis currently has six other communities in development in Seattle and California. “Heading into 2020, we set aggressive goals to double in size over the next decade,” says Dwayne Clark, founder, CEO and chairman of Aegis Living.

August 17, 2021

Assisted Living Development News Washington

Alliance Residential Starts Construction of 136-Unit Holden of Bellevue in Washington

by Jeff Shaw July 12, 2021

BELLEVUE, Wash. — Alliance Residential has started construction of Holden of Bellevue, the first piece of a three-phase multifamily project in downtown Bellevue. Holden will rise seven stories and feature 110 assisted living units and 26 memory care units. It is scheduled to open this fall. The second phase of the overall project will be an independent living building, followed by standard multifamily in the third phase. Its location is in close proximity to the city’s restaurants, boutiques, art galleries, public parks and museums. Milestone Retirement Communities will operate Holden …

July 12, 2021

Assisted Living Development Finance News Washington

BMO Harris Funds a $19.4M Loan for Sunrise Renovation Project in Redmond, Washington

by Jeff Shaw July 2, 2021

REDMOND, Wash. — BMO Harris Bank’s Healthcare Real Estate Finance group has provided a $19.4 million construction loan for the renovation of a Sunrise Senior Living assisted living and memory care community in Redmond. Originally built in 1999, the asset features 110 units. Further details on the project were not disclosed.

July 2, 2021

Acquisitions News Operations Skilled Nursing Washington

The Ensign Group to Operate Four CareTrust-Owned Skilled Nursing Facilities in Washington

by Jeff Shaw June 4, 2021

MOUNT VERNON, SHORELINE, LAKEWOOD and VANCOUVER, Wash. — The Ensign Group, Inc. (NASDAQ: ENSG) will take over operations of four skilled nursing facilites in Washington. The owner, CareTrust REIT Inc. (NASDAQ: CTRE), is transferring the operations from Five Oaks Healthcare. The four facilities are: Mira Vista Care Center, a 94-bed skilled nursing facility in Mount Vernon; Shoreline Health and Rehabilitation, a 114-bed skilled nursing facility in Shoreline; The Oaks at Lakewood, an 80-bed skilled nursing facility in Lakewood; and The Oaks at Timberline, a 98-bed skilled nursing facility in Vancouver. …

June 4, 2021

Finance Maryland News Washington

Grandbridge Arranges $11.2M in Seniors Housing Loan Modifications

by Jeff Shaw May 6, 2021

SEATTLE and GAITHERSBURG, Md. — Grandbridge Real Estate Capital arranged $11.2 million in financing across three modification loans. Artin Anvar arranged the interest rate reduction (IRR) modifications through HUD’s IRR program. The first transaction, totaling $984,721, was secured by Hilltop Manor, a 35-unit assisted living community in Seattle. The loan features a 20-year term and 20-year amortization. The second transaction, totaling $955,717, was secured by Spring Manor, a 54-unit memory care facility in Seattle. The loan features a 20-year term and 20-year amortization. The largest transaction, totaling $9.2 million, was …

May 6, 2021

Finance News Washington

CBRE Arranges $49M Refinancing for Four-Property Portfolio in Metro Seattle

by Jeff Shaw April 26, 2021

SEATTLE — CBRE Senior Housing has arranged a refinancing for a portfolio of four senior living properties in the Seattle metropolitan area. The four senior living communities are located on infill sites. The portfolio features 368 total units, of which 91 units are for independent living and 277 units are for assisted living. CBRE secured a five-year, $49 million, floating-rate loan with 36 months of interest-only payments through a national bank. MBK Senior Living will continue to operate the four properties as it has since acquisition. Aron Will, Austin Sacco, …

April 26, 2021

Development News Washington

Aegis Living Opens Bellevue Overlake Community Near Seattle

by Jeff Shaw April 23, 2021

BELLEVUE, Wash. — Aegis Living has opened Aegis Living Bellevue Overlake, located in the city of Bellevue where the company is headquartered. The community features 122 senior living apartments in the 106,000-square-foot-building. Its opening follows Aegis Living’s joint acquisition of 10 communities across California, Washington, and Nevada. Aegis has eight additional communities under development, including communities in Kirkland and the Eastlake neighborhood of Seattle. Aegis Living Bellevue Overlake is the first community Aegis Living has designed to be fully centered in the scientific benefits of biophilia and the innate connection …

April 23, 2021

Finance M&T Realty Capital Corporation News Skilled Nursing Washington

M&T Realty Capital Provides $3.1M Refinancing for Skilled Nursing Facility in Seattle

by Jeff Shaw March 29, 2021

SEATTLE — M&T Realty Capital Corp. has provided a $3.1 million, FHA-insured loan for the refinance of a 47-unit skilled nursing facility in Seattle. The loan was completed under the U.S. Department of Housing and Urban Development (HUD) 223(a)(7) program. The 21-year loan features a 2.68 percent fixed interest rate and is fully amortizing. The transaction was led by Jim Schneider and Madeleine Roach of M&T Realty Capital’s Seattle office. Details on the borrower and facility were not disclosed.

March 29, 2021

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