Van Mall Retirement, a 191-unit senior living community located in Vancouver, Washington was purchased by a Pacific Northwest-based owner/operator in a $28 million ($146.6k/unit) transaction. The asset was sold by Lytle Enterprises.
Van Mall Retirement is located at 7808 NE 51st Street, adjacent to the Vancouver Mall and approximately 10 minutes from Downtown Vancouver and Portland International Airport.
Originally constructed in 1989 and expanded in 1994, Van Mall Retirement offers both independent and assisted living units available in one- and two-bedroom layouts. All of the units are pet-friendly, and residents have access to an on-site theater, salon and barbershop, fitness center, activity and games room, arts and crafts studio, library and bistro.
Jay Wagner, Rick Swartz, Aaron Rosenzweig, Alanna Ellis, Dan Baker and Dean Ferris with JLL represented the seller and procured the buyer in the transaction. In addition, JLL procured acquisition financing from a regional bank on behalf of the buyer.
JLL is a leading professional services firm that specializes in real estate and investment management. Their vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, they will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
