CBRE National Senior Housing arranged the refinance of two senior living communities in Oregon: The Springs at Carman Oaks in Lake Oswego and The Springs at Wilsonville, just south of Portland. Aron Will, Tim Root and Michael Cregan arranged the financing on behalf of the borrower, The Springs Living, an owner/operator of 19 senior living communities across Oregon and Montana. Totaling 294 units of independent living, assisted living and memory care, the communities are highly amenitized with fitness centers, dining rooms, lounge areas, movie theaters, putting greens and more.
CBRE originated a three-year loan totaling $58 million with two years of interest only to effectuate the refinance through a syndication of two regional banks. This is the second refinance that CBRE has completed for the portfolio over the past three years.
