[Houston, Texas, April 25, 2023] CBRE National Senior Housing arranged refinancing for Queen Anne Manor (the “Community”), a 93-unit Assisted Living and Memory Care community located in Seattle, Washington on behalf of Capitol Seniors Housing (“CSH”), a fully integrated senior housing developer and owner. Aron Will, Vice Chairman of CBRE National Senior Housing, Adam Mincberg, Vice President of CBRE National Senior Housing, and Michael Cregan, Senior Analyst of CBRE National Senior Housing, arranged the financing.

Originally built in 1908 as Seattle’s Children’s Orthopedic Hospital, the Community was converted to seniors housing in 1982 and now offers a unique living experience, along with high-end amenities in one of the longest standing communities in the market. Extensively renovated in 2015, the Community is located 2 miles from downtown Seattle in the prominent, high barrier-to-entry Queen Anne Hill neighborhood. Located atop the highest named hill in the city, the Community offers quintessential views of Seattle’s downtown skyline to its south, the majestic Olympic Mountains and the Puget Sound to its west and the endless Cascade Mountains to its east. Nearby amenities include marinas, Seattle’s waterfront, and the Seattle Center that features the Space Needle, Key Arena, Pacific Science Center, Seattle Opera House and the Monorail train system. The Community was originally acquired by CSH in 2016 to complement a portfolio of assets acquired in the Pacific Northwest. The Community is currently operated by Senior Services of America (“SSA”) under a third-party management agreement.

CBRE National Senior Housing originated a $23.3M, 10-year bridge loan with three years of interest only to effectuate the refinance through a national bank.

CSH was founded in 2003 by Scott Stewart to capitalize on opportunities in the senior housing sector. CSH officers have 45+ years of industry experience and have been responsible for the acquisition/development of 4,185 senior’s units across the country totaling over $1 billion in asset value. Currently, CSH owns 28 properties across 3,288 units.

Founded in 2000, Tacoma, WA-based SSA specializes in the management and operations of senior housing communities and has immense local knowledge with a strong reputation in the Seattle market. Today, SSA operates 20 communities in three states and manages more than 1,800 beds. SSA currently operates 17 communities in the state of Washington.

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.