Frontier Management just sold four of its Pacific Northwest seniors housing communities to a publicly-traded REIT but won’t be exiting entirely. In addition to continuing as the operator, Frontier also retained a joint venture ownership interest in the portfolio.
Totaling 139 assisted living and memory care units (244 beds), these communities are located in Burlington and Oak Harbor, Washington, and the greater Portland, Oregon MSA. They were well occupied and of institutional quality too, which clearly attracted the REIT buyer. Matthew Whitlock of CBRE National Senior Housing represented Frontier and arranged a successful outcome for them.