Columbia Pacific Secures $118M for Senior Housing Portfolio

Capital One arranged the adjustable-rate loan for the company’s fee interest acquisition of a four-property, 518-unit senior housing portfolio spread across three states.

An investment vehicle managed by Columbia Pacific Advisors has secured a $118.3 million adjustable-rate loan to acquire a fee interest in a four-property senior housing portfolio in California, Massachusetts and North Carolina. Capital One provided the Fannie Mae loan.

The portfolio has a total of 518 units and is comprised of El Dorado Estates in El Dorado Hills, Calif., Fairview Estates in Hopkinton, Mass., Providence Meadows in Charlotte, N.C. and Williams Place in Davidson, N.C.

“Our team previously provided a balance sheet transaction for Columbia Pacific which was delivered on time and with an attractive structure,” said Dague Retzlaff, senior vice president at Capital One Healthcare, in prepared remarks. “This time around, we were happy to leverage our expertise in agency lending to deliver a solution that worked well for all parties.”

Earlier this year, Capital One arranged a $242.7 million senior secured term loan to facilitate the recapitalization and acquisition of a portion of a senior housing portfolio of a joint venture managed by Columbia Pacific Advisors.

“Capital One’s ability to provide both agency and balance sheet solutions pairs well with our evolving needs,” said Todd Seneker, managing director at Columbia Pacific, in prepared remarks. “In each instance, they have demonstrated an outstanding level of professionalism.”

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