A few weeks ago, we reported the closing of the highest-priced single-asset seniors housing sale in the state of Oregon. Now, we’ve learned that KeyBank Real Estate Capital financed it with a $63.2 million Freddie Mac loan, which Charlie Shoop arranged with a fixed rate, 10-year term, four years of interest only and a 30-year amortization period.
Blueprint Healthcare Real Estate Advisors handled the sale on behalf of the original developer/owner, eventually securing a $92 million, or $321,700 per unit, purchase price from the buyer, Strategic Student & Senior Housing Trust. That represented a 6.4% cap rate based on estimated trailing EBITDAR.
Integral Senior Living, the property’s manager since 2011, stayed on to operate the community, which was 94% occupied with a 100% private pay census. They will also oversee a 23-unit memory care expansion on the campus, scheduled to break ground this Fall.
