A joint venture between Artemis Real Estate Partners, American Capital Group and MorningStar Senior Living just refinanced its 142-unit independent living community in Hillsboro, Oregon with the help of CBRE National Senior Housing’s Aron Will, Austin Sacco and Tim Root. Situated on 1.25 acres, the community opened this month as the first brand-new and high-quality IL community built in the last six years in the local market. It is located less than a mile from the 126-bed Kaiser Permanente Westside Medical Center and from The Streets of Tanasbourne, a 386,000-square-foot outdoor shopping mall. MorningStar is the operator.
CBRE secured a $33.1 million non-recourse loan through a national bank to refinance the property. The loan came with a floating rate and a full term of interest only.
The same joint venture also recently opened a 151-unit IL community in Kirkland located less than a mile from Evergreen Medical Center and within 10 miles of 11 other hospitals.
