CBRE Arranges $55.5M Sale of 252-Unit Community in Oregon

by Jeff Shaw

GRESHAM, Ore. — CBRE Capital Markets has arranged the sale of Courtyard Fountains, a 252-unit independent living and assisted living community in the Portland suburb of Gresham, for $55.5 million.

Courtyard Fountains was built in three phases between 1996 and 2010, and underwent more than $2.4 million in capital improvements since 2012. Occupancy as of closing was approximately 93 percent.

In addition to the purchase, CBRE, through its Freddie Mac program, facilitated the loan assumption of an existing $25 million, fixed-rate loan originated by CBRE in December 2012.

Aron Will, executive vice president of CBRE’s National Senior Housing team, facilitated the loan assumption on behalf of the buyer, American Realty Capital Healthcare Trust II LLC (ARC). Lisa Widmier and Matthew Whitlock of CBRE’s National Senior Housing team represented the seller, an undisclosed private equity group.

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