Ziegler was brought on by a not-for-profit in its divestment of a seniors housing community in Portland, Oregon, to a for-profit senior living owner/operator. Built in stages from the 1940s to the 1990s, Parkview Christian Retirement Community comprises 115 independent living units and 62 assisted living units across six acres. Humair Sabir, Stephen Johnson, Marie Carlson and Ryan Anders handled the transaction.
The seller, Oregon Baptist Retirement Home Society, emphasized to Ziegler its desire for the community to be divested to a buyer that was culturally aligned and had a shared vision and values. Ziegler initially targeted not-for-profits, however, after an organization with a similar mission did not emerge, the seller directed Ziegler to expand its search and include for-profit companies. Oregon Baptist moved forward with the ultimate buyer because it believed this buyer would keep the already-established mission alive at the community. The ultimate agreement allowed the seller to settle all of its debt obligations and walk away with proceeds to further its mission. Sounds like a win-win.
