Áegis Lodge of Kirkland consists of 70 assisted living and 17 memory care units.
SEATTLE/APTOS, CA—Holliday Fenoglio Fowler LP recently facilitated the sale and financing of three class-A seniors housing properties totaling 253 units in suburban Seattle and Northern California. The HFF team marketed the property exclusively on behalf of the seller, Áegis Living. The price was undisclosed.
A joint venture of Blue Moon Capital Partners and Áegis Living affiliates purchased the properties free and clear of existing financing. Additionally, HFF's debt placement team worked on behalf of the new owner to secure fixed-rate agency financing to fund the acquisition.
The portfolio offers a blend of assisted living and memory care units within properties that have a combined average occupancy of nearly 95%. The two Seattle-area properties in the portfolio are Áegis of Bellevue at 148 102nd Ave. SE in Bellevue, which consists of 68 assisted living and 18 memory care units, and Áegis Lodge of Kirkland at 12629 116th Ave. NE in Kirkland, which consists of 70 assisted living and 17 memory care units. The Northern California property, Áegis of Aptos, is located at 125 Heather Terrace in Aptos, which is an oceanside community approximately eight miles east of Santa Cruz and less than 40 miles south of San Jose.
The HFF investment advisory team representing the seller included senior director David Fasano, senior managing directors Ryan Maconachy and Chad Lavender, and senior director Ross Sanders, along with managing director Mark Wintner and director Christopher Ross. HFF's debt placement team representing the borrower was led by director Sarah Anderson.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
