CBRE Arranges $33.1M Refinancing for Seniors Housing Property in Hillsboro, Oregon

by Amy Works

HILLSBORO, ORE. — CBRE National Senior Housing has arranged $33.1 million in financing for MorningStar of Hillsboro.

The borrower is a joint venture between Artemis Real Estate Partners, MorningStar Senior Living and American Capital Group.

Situated on a 1.35-acre parcel, the community comprises 142 independent living units. The property recently opened its doors. The operator is MorningStar.

The property is less than a mile north of Kaiser Permanente Westside Medical Center, a 126-bed hospital that serves the greater Hillsboro and Beaverton suburbs. Additionally, half a mile north of the community is The Streets of Tanasbourne, a 386,000-square-foot outdoor shopping mall with over 55 retail and restaurant options.

Aron Will, Austin Sacco and Tim Root arranged the nonrecourse, floating-rate loan with full-term interest-only payments. A national bank provided the capital.

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