WEST LINN, ORE. — Owner-operator Cadence Living has partnered with boutique investment firm Dylan Investments to acquire Tanner Spring, an assisted living and memory care community in the affluent Portland suburb of West Linn.
The community comprises 62 assisted living units and 26 memory care units. The partnership also acquired the adjacent vacant land and has plans to add 100 residential units in the future. Orix Securities advised the seller on the transaction and Blueprint Healthcare Real Estate advised the buyer.
“We have been focused on the northwest for our growing portfolio,” says Rob Leinbach, Cadence principal. “Tanner Spring has a terrific reputation and we love the West Linn neighborhood. It is a unique property with sweeping views of the Willamette River valley that we believe is well positioned for the long term.”
Cadence Living is currently developing, owns and/or operates communities throughout the South and West.