CBRE secured the financing for GenCare Lifestyle Tacoma at Point Ruston (the “Community”) on behalf of a joint venture between Harrison Street, PMB, and GenCare Lifestyle.

Aron Will, Vice Chairman of CBRE National Senior Housing, and Tim Root, Vice President of CBRE National Senior Housing secured a 3-year loan.

Built in 2020, the Community consists of 159 Independent Living, Assisted Living, and Memory Care units. The Community is located just 3 miles north of downtown Tacoma, and lies in the heart of Point Ruston, less than 500 feet from the Puget Sound. Point Ruston is the Pacific Northwest’s premier waterfront neighborhood, where residents have walking access to high end retail, world class dining, a movie theatre, an urgent care center, and a 760-acre park on the water which contains a zoo, aquarium, and countless other attractions. The Community consists of a heated indoor pool, library, wellness center, bistro, among many others. The Community fully opened in Q4 2020 amid the COVID Pandemic and leased up to 90% in 36 months, averaging an impressive 4 net move-in’s per month. As of 4/30/2024, the Community is 98% occupied.

Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets. Since inception in 2005, the firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets. The firm has invested across senior housing, student housing, healthcare delivery, life sciences and storage real estate as well as social, utility, and digital infrastructure. Headquartered in Chicago and London with offices throughout North America, Europe, and Asia, the firm has more than 280-employees and approximately $55 billion in assets under management.

PMB is a purpose-driven healthcare real estate developer with a mission to improve healthcare delivery, effect change, and positively impact communities. Their company is 100 percent focused on healthcare real estate across the continuum of care including senior living facilities, medical office buildings, behavioral health, life sciences, ambulatory care centers, inpatient hospitals, post-acute hospitals, and parking structures. PMB has developed over 130 facilities to date representing approximately 6.5 million square feet. The firm owns and manages 70 medical facilities comprising over 5.5 million square feet. For more information, please visit their website at www.pmbllc.com.

GenCare Lifestyle is a high-touch regional operator with an exceptional reputation in the Puget Sound region. GenCare currently operates 690 units (inclusive of the Subject) across six communities in Tacoma, Seattle, Lynnwood, Granite Falls, Federal Way, and Renton, WA. For over 25 years, GenCare has been at the forefront of wellness-focused senior living. Their signature Whole Life Living program takes a holistic approach to resident well-being, encompassing five key pillars: Culinary Excellence (the only senior living company in the nation that has a certified gluten-free menu), Engaging Activities, Mental Fitness, Purposed Based Programs, and Emotional Well-being. This resident-centric and results-oriented approach is a hallmark of GenCare Lifestyle and a key factor in their exceptional reputation within the senior living industry.


CBRE was the #1 Fannie Mae Senior Housing Lender in 2019 and 2016. From 2014 through 2023, CBRE originated over $12.0 billion in senior housing debt across 509 assets. CBRE completed over $21.5 billion in combined senior housing investment sales and loan originations from 2014 through 2023.

• #1 Fannie Mae Senior Housing Lender in 2019 and 2016
• #2 Senior Housing Freddie Mac Lender in 2021
• $12.0 Billion in senior housing debt originations in 2014 through 2023 across 509 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 $14.0 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
• $21.5 Billion in combined senior housing investment sales & debt originations from 2014 through 2023

*Fannie Mae, Freddie Mac, HUD FHA, Mezzanine & Construction Debt Placement