BEAVERTON, ORE. — Anthology Senior Living, the dedicated seniors housing platform of CA Ventures, has entered a joint venture partnership with Formation Development Group to build Anthology of Beaverton, a 207,169-square-foot senior living community in Beaverton.
Situated on a 5.5-acre parcel outside of Portland, Anthology of Beaverton will feature 206 luxury independent living, assisted living and memory care units. The community is located near the Tanasbourne shopping district, which includes a Whole Foods, Starbucks and Macy’s, in addition to other shopping and dining locations. Major employers within close proximity include Nike World Headquarters and Intel.
While development costs were not disclosed, CBRE arranged a $49.7 million construction loan for the project. Aron Will, Austin Sacco and Matthew Kuronen of CBRE National Senior Housing led the team on the floating-rate financing, which features partial interest-only payments through a national bank.
The transaction marks the beginning of Anthology’s strategic alliance with Formation as a general partner investor. Anthology and Formation plan to further bolster their partnership through the co-sponsorship and development of future projects together.
In addition to serving as development partner, Anthology will manage the property, expanding its owned/operated portfolio to 39 senior living communities across the U.S. Anthology expects to deliver the community in second-quarter 2024.