CBRE arranged a Freddie Mac assumption for the Cascade Portfolio (the “Portfolio” or “Communities”), a collection of five senior housing communities located in suburban Oregon markets. This transaction represents CBRE’s second financing of the Portfolio after previously arranging acquisition financing on behalf of the Seller in 2016. Aron Will, Vice Chairman of CBRE National Senior Housing, Adam Mincberg, Vice President of CBRE National Senior Housing, and Michael Cregan, Vice President of CBRE National Senior Housing, financed the Portfolio on behalf of the Buyer, Arcus Healthcare Partners (“Arcus”). Post acquisition, the current Portfolio manager, Frontier Senior Living (“Frontier”), will remain in-place and has been managing the Portfolio since 2012.

Through its Freddie Mac Optigo lending platform, CBRE National Senior Housing facilitated the assumption of the previously originated $55.6M fixed-rate loan on behalf of the Buyer.
 
Originally built in the late 1980’s and early 1990’s, the Portfolio contains 468 units of Independent Living, Assisted Living and Memory Care all located in various Oregon markets.

Arcus is a real estate investment firm focused on senior housing and healthcare real estate investments. Arcus targets acquisition opportunities that create value based on their knowledge of the complex operating environment found in the seniors housing industry. Founded by Brian Beckwith and Sheryl Marcet, who have a combined 40+ year proven track record and a transparent approach, Arcus invests in seniors housing and healthcare assets across the U.S. Arcus founders have worked on a direct basis with some of the largest global institutional private equity funds and private investors and have transaction experience in excess of $6.0 billion dollars. The Arcus founders have completed transactions across multiple senior housing and healthcare real estate assets and acted as a sponsor, equity partner, lender, and asset manager.
 
With 125 locations across 21 states, Frontier is one of the largest senior housing operators in the United States. Founded by Greg Roderick in 2000 and with a Services Office in Portland, Oregon, Frontier provides guidance and ongoing support to senior living facilities across the country. With communities spanning from the Pacific to the Heartland, the Southwest to the coastal East, Frontier brings their culture to seniors across the country. Their SPARK Memory Care program features therapeutic techniques and innovative technology to keep residents with memory-related conditions engaged and active.

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.