CBRE Arranges $21.6M Financing for 167-Unit Community in Washington State

FEDERAL WAY, Wash. — CBRE has arranged $21.6 million in financing for Village Green Retirement Campus, a 167-unit independent living and assisted living community in the Seattle suburb of Federal Way.

The borrower is The Powell Family, a Seattle-based developer and operator of many types of commercial real estate. 

The community is located less than a mile from St. Francis Hospital, which is a part of CHI Franciscan Health, one of the largest health care systems in the Puget Sound area. Situated on 12.9 acres, the property comprises two main buildings and 30 cottages.

Mark Capeloto of CBRE’s Debt and Structured Finance office in Seattle and Aron Will of CBRE National Senior Housing arranged the financing. The Freddie Mac loan features a seven-year term, floating rate and 36 months of interest-only payments.