Ziegler Arranges $42.6M Acquisition Financing for Three-Property Seniors Housing Portfolio in Northwest
BOZEMAN, MONT., AND SEATTLE — Ziegler has arranged $42.6 million in financing for the acquisition of two seniors housing properties near Seattle and another in Bozeman.
The borrower is Radiant Senior Living, which has brought the three properties into its portfolio. The financing consisted of a combination of senior and mezzanine debt, with Congressional Bank providing the senior debt and a national seniors housing fund providing the mezzanine debt.
Radiant acquired the portfolio from a publicly traded healthcare REIT as part of its expansion efforts across the country. The properties feature a combined 36 independent living units and 204 assisted living units.
Post-acquisition, Radiant’s portfolio totals 18 communities spanning across six states in the Pacific Northwest.