BEAVERTON, ORE. — Walker & Dunlop has arranged a $15.2 million loan for the refinancing of Waterhouse Ridge Memory Care in Beaverton, just west of Portland.
Located at 1115 NW 158th Ave., Waterhouse Ridge features 68 memory care beds. Onelife Senior Living developed, owns and operates the facility, which is currently 88 percent occupied.
Kevin Giusti and Daniel Barone of Walker & Dunlop led the origination team that placed the loan through one of its lending partners. Loan proceeds were utilized to refinance existing debt and provide cash to the borrower. The loan will be seasoned for two years before a planned refinancing under the U.S. Department of Housing and Urban Development’s 232 Program.