1031 Crowdfunding Buys Memory Care Facility

Mountain Pacific Bank provided acquisition financing for the 40-unit senior living community in Skagit County.
Birchview Memory Care. Image courtesy of 1031 Crowdfunding

1031 Crowdfunding has acquired Birchview Memory Care, a 40-unit/60-bed memory care facility in Sedro Woolley, Wash., for $15.9 million. Tacoma-based Senior Services of America is handling operations at the community.

The buyer financed the acquisition with a $5 million loan funded by Mountain Pacific Bank, Skagit County records show.

Located on a more than 1-acre site at 925 Dunlop Ave., the community features 40 one-bath studios available in two configurations. Birchview Memory Care offers two senior-care levels: long-term memory care as well as short-term respite care. The facility also provides a range of services including dining, housekeeping, planned activities and organized transportation.

The one-building property features a dining room, a game room equipped with a pool table, common areas as well as a courtyard outfitted with a gazebo, flower beds, walking paths and an outdoor patio.

Adjacent to Riverfront Park, Birchview Memory Care is less than 2 miles from the Metcalf Street retail corridor and downtown Sedro Woolley. Skagit Regional Airport is roughly 10 miles west.

The rising demand for senior housing has led to an evolution of design trends within the sector. Changing preferences include a more wellness-focused design, along with more amenity-rich offerings.