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The Springs at Carman Oaks & The Springs at Wilsonville - Portland, OR MSA
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[Houston, Texas, May 22, 2023] CBRE National Senior Housing arranged a refinancing for The Springs at Carman Oaks and The Springs at Wilsonville (the “Communities”) on behalf of The Springs Living (“ TSL”). Aron Will, Vice Chairman of CBRE National Senior Housing, Tim Root, Vice President of CBRE National Senior Housing, and Michael Cregan, Senior Analyst of CBRE National Senior Housing, arranged the financing.
Nestled in the northwestern corner of Clackamas County, The Springs at Carman Oaks is situated in the affluent suburb of Lake Owego, while The Springs at Wilsonville is located just 17 miles south of downtown Portland. The Communities are highly amenitized with fitness centers, dining rooms, lounge areas, movie theaters, putting greens and more. The Communities consist of 294 Independent Living, Assisted Living and Memory Care units.
CBRE National Senior Housing originated a 3-year loan totaling $58M with 2 years of interest only to effectuate the refinance through a syndication of two regional banks. This financing represents the second time that CBRE has refinanced the portfolio over the past three years.
TSL is headquartered in McMinnville, Oregon, and owns and operates 19 senior living communities across Oregon and Montana, with one additional community under construction. TSL boasts a successful 27-year senior housing track record and is responsible for the development and management of over 2,500 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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