Grandbridge Facilitates $24.3M in Acquisition Financing for Two Seniors Housing Communities in Portland

Hawthorne Gardens, left, and Pacific Pointe received $24.3 million in acquisition financing.

PORTLAND, ORE. — Grandbridge Real Estate Capital’s Seniors Housing and Healthcare Finance Group has arranged a total of $24.3 million in financing for the acquisition of Hawthorne Gardens and Pacific Pointe Retirement Inn, both seniors housing communities located in Portland.

The two nonrecourse bridge loans included $12 million for the 58-unit Hawthorne Gardens and $12.3 million for the 114-unit Pacific Pointe. The buyer and seller were not disclosed.

Grandbridge’s Richard Thomas and Meredith Davis negotiated the financing. The company’s proprietary lending platform, BB&T Real Estate Funding’s structured loan product.

Hawthorne Gardens was most recently sold in September 2015 for $10.8 million.

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