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California  + Finance  | 

Northmarq Arranges $30M Senior Living Refi in Visalia

Northmarq’s Seattle Debt + Equity team led by managing director Stuart Oswald arranged the $29.5-million refinance of Quail Park at Shannon Ranch, a 120-unit independent living, assisted living and memory care community located at 3440 W. Flagstaff Ave. in Visalia.

The team arranged financing on behalf of the borrower, Northwest Visalia Senior Housing LLC through a correspondent relationship with Poppy Bank of California. The transaction was structured on a 10-year term with interest-only for the first five years. The loan proceeds were used to retire a bridge loan Northmarq originated in 2021.

The community is operated by Seattle-based Living Care Lifestyles, and the ownership group includes the principal of Living Care Lifestyles, several investors local to Visalia and Kaweah Health System of Visalia.

“I am grateful for our relationship with Living Care Lifestyles, which spans over 20 years and includes 24 successful loan closings,” Oswald said.

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Inside The Story

Northmarq's Oswald

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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