Columbia Pacific Secures $243M for Senior Housing Portfolio

Capital One arranged the recapitalization and acquisition loan on behalf of the buyer for 18 properties across 11 states, totaling 2,310 beds.

Columbia Pacific Advisors has secured 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 the firm. Capital One has acted as the sole arranger, bookrunner and administrative agent on behalf of Columbia.

“The Capital One Capital Markets group provided a ‘Highly Confident’ rating for the syndication, giving us the certainty of execution that was essential to this deal,” said Todd Seneker, managing director, Columbia Pacific, in prepared remarks. “The team demonstrated an understanding of our goals and worked closely with us throughout the process.”

The portfolio comprises 18 senior housing facilities across 11 states, totaling 196 independent living, 1,257 assisted living, 378 memory care and 479 skilled nursing beds. 

“Our team was able to underwrite, syndicate and close the transaction in approximately 70 days to meet Columbia Pacific’s hard close date,” said Dague Retzlaff, senior vice president, Capital One Healthcare, in a prepared statement. “This was a large, complex transaction and required an in-depth understanding of each individual type of seniors housing and care.” 

In March, Columbia Pacific Advisors received $114.7 million in development financing for 620 Terry, an upcoming luxury senior housing community in Seattle. 

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