Cushman & Wakefield Brokers Sale of Two-Property Seniors Housing Portfolio in Portland
PORTLAND, ORE. — Cushman & Wakefield National Senior Housing Capital Markets, exclusively advising seller Focus Healthcare Partners LLC, has arranged the sale of a portfolio of two seniors housing assets in Portland.
The portfolio included Vancouver Pointe Senior Village, a 127-unit independent living community, and Hawthorne Gardens, a 58-unit assisted living and memory care community in the Sunnyside/Hawthorne neighborhood.
A private equity investor acquired the properties for an undisclosed price. Artegan, the current operator, will continue to manage the communities.
Vancouver Pointe Senior Village was originally built in 2006 and recently underwent renovations to the common areas totaling nearly $1 million.
Hawthorne Gardens was built in 2007 featuring 36 assisted living units and a 22-unit memory care wing. The community also underwent a recent capital improvement program to complete a memory care conversion and a general upgrade of the community.