Marcus & Millichap Arranges Sale of Two Communities in Oregon for $21.6M

by Jeff Shaw

PORTLAND, Ore. — Marcus & Millichap (NYSE: MMI has arranged the sale of two seniors housing properties in Oregon for a total of $21.6 million.

Hawthorne Gardens Assisted Living, a 58-unit, 84-bed assisted living and memory care facility in Portland, sold for $10.8 million. Skylark Assisted Living, a 75-unit assisted living and 34-bed memory care facility in Ashland, which sold for $10.8 million.

Located in East Portland, Hawthorne Gardens was built in 2007 and was 88 percent occupied at the time of the sale. Skylark Assisted Living, located within the Mountain Meadows age-restricted community, opened in 1997. Skylark was 90 percent occupied at the time of the sale.

Dan Mahoney and Tony Cassie, directors of Marcus & Millichap’s National Seniors Housing Group in Portland, represented the sellers and procured the buyers in both transactions. 

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