LAKE OSWEGO AND WILSONVILLE, ORE. — CBRE National Senior Housing has arranged a $58 million refinancing for The Springs at Carman Oaks and The Springs at Wilsonville on behalf of The Springs Living (TSL).
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 in Wilsonville, approximately 17 miles south of downtown Portland. The communities combined offer 294 independent living, assisted living and memory care units.
Aron Will, Tim Root and Michael Cregan of CBRE National Senior Housing arranged the financing. The three-year loan features two years of interest-only payments. A syndication of two regional banks provided the capital.
This financing represents the second time that CBRE has refinanced the portfolio over the past three years. TSL is headquartered in McMinnville and owns and operates 19 senior living communities across Oregon and Montana, with one additional community under construction.