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The Springs at Tanasbourne – Portland, OR MSA
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[Houston, Texas, July 10, 2023] CBRE arranged a refinancing for The Springs at Tanasbourne (the “Community”), a Class “A” senior housing community located in Hillsboro, Oregon, on behalf of a joint venture between an institutional partner and The Springs Living (“ TSL”), collectively (the “Borrower”). Aron Will, Vice Chairman of CBRE National Senior Housing, Matt Kuronen, Vice President of CBRE National Senior Housing, and Michael Cregan, Senior Analyst of CBRE National Senior Housing, arranged the financing.
The Community was originally developed in 2009 by TSL and is situated within the affluent west-Portland submarket of Hillsboro, OR. The Community contains 148 Independent Living units, 70 Assisted Living units, and 12 Memory Care units.
CBRE National Senior Housing originated a $57.5M, 5-year loan with 5 years of interest only to effectuate the refinance through its Fannie Mae DUS lending platform.
McMinnville, Oregon-based TSL is a 27-year-old privately held regional senior housing owner/operator that is focused on creating comfortable Independent Living, Assisted Living, and specialized Alzheimer’s/Dementia Care communities in the Pacific Northwest. TSL has a total of 14 communities owned/operated that are located in the state of Oregon, 5 in Montana, and 1 community under construction in Washington. The management team has developed and managed more than 1,600 Independent Living, Assisted Living and Memory Care units.
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CBRE was the #1 Fannie Mae Senior Housing Lender in 2019 and 2016. From 2014 through 2022, CBRE originated over $11.1 billion in senior housing debt across 484 assets. CBRE completed over $19.1 billion in combined senior housing investment sales and loan originations from 2014 through 2022. In 2017, CBRE was the #1 senior housing capital intermediary in the country. CBRE has been a Top 3 senior housing originator in the country from 2015 through 2021. CBRE was the #1 GSE lender in the nation in 2021 with over $14 billion in Fannie Mae, Freddie Mac, and HUD originations.
- #1 Fannie Mae Senior Housing Lender in 2019 and 2016
- #2 Senior Housing Freddie Mac Lender in 2021
- $11.1 Billion in senior housing debt originations in 2014 through 2022 across 484 assets
- #1 Senior Housing Intermediary in 2017
- Top 3 Senior Housing Lender 2010-2021*
- #2 Senior Housing Freddie Mac Lender in 2021
- #1 Agency originator in the nation in 2021: Over $14 billion in originations
- #1 Freddie Mac Lender in 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020
- #2 Fannie Mae Lender in 2020 and 2021
- $19.1 Billion in combined senior housing investment sales & debt originations from 2014 through 2022
- Fannie Mae, Freddie Mac, HUD FHA, Mezzanine & Construction Debt Placement
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