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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.
- ◦Financing


