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Seattle & Northwest   /   March 12, 2021

Lisa Brown
By: Lisa Brown

Suburban Portland Memory Care Facility Sells for $25M

A 99 unit/114 bed memory care community in a Portland suburb recently sold for $25 million in an off-market transaction. The seller was a privately owned California-based national operator. The buyer is a growing regional owner/operator based in the Portland MSA.

This represents the second sale of the community within a 15-month period, with the first sale as part of a larger portfolio disposition of non-core assets for a public REIT.

The Cushman & Wakefield senior housing capital markets team involved in the transaction was vice chairman Rick Swartz, executive managing director Jay Wagner, managing director Aaron Rosenzweig and director Dan Baker. This represents the second sale of the community within a 15-month period, with the first sale as part of a larger portfolio disposition of non-core assets for a public REIT.

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Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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