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Seattle & Northwest  + Seattle  + Senior Housing  |  April 2, 2025
Jasmine Kilman
By: Jasmine Kilman

$58M Financing Secured for Lynnwood Senior Housing

JLL has arranged $58 million in financing for Quail Park of Lynnwood, a 253-unit senior housing community in Lynnwood, Washington.

Working on behalf of the borrower, IRA Capital, JLL placed the three-year, floating-rate senior loan with a regional bank. JLL also sold the property to IRA Capital in June 2024. The JLL Capital Markets Seniors Housing team representing the borrower was led by Senior Director Alanna Ellis, Senior Managing Director John Chun and Associate Zach Brantley. The sale was managed by Director Dean Ferris.

Quail Park of Lynnwood was built in two phases in 2013 and 2020. Phase one consists of 131 independent living, assisted living and memory care units. Phase two offers 122 independent living and assisted living including 26 cottages and 16 enhanced assisted living units. Located at 4015 164th St. SW in Lynnwood, the property sits on a 15.25-acre campus about 17 miles north of Seattle.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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