Northmarq’s Seattle Debt + Equity team led by managing director Stuart Oswald arranged the $29.5-million refinance of Quail Park at Shannon Ranch, a 120-unit independent living, assisted living and memory care community located at 3440 W. Flagstaff Avenue in Visalia, California.
The team arranged financing on behalf of the borrower, Northwest Visalia Senior Housing LLC through a correspondent relationship with Poppy Bank of California. The transaction was structured on a 10-year term with interest-only for the first five years. The loan proceeds were used to retire a bridge loan Northmarq originated in 2021.
Quail Park at Shannon Ranch is operated by Seattle-based Living Care Lifestyles, and the ownership group includes the principal of Living Care Lifestyles, several investors local to Visalia and Kaweah Health System of Visalia.
“I am grateful for our relationship with Living Care Lifestyles, which spans over 20 years and includes 24 successful loan closings,” Oswald said.
For nearly 60 years, Northmarq has provided debt, equity, and loan servicing to commercial real estate owners and investors through our offices across the U.S. Our investment sales platform offers acquisition and disposition services for multifamily assets in select markets. Find our local market experts at www.northmarq.com/offices. We offer clients the ideal combination of a strong national company capable of attracting a wide range of capital sources, a personalized approach to buying and selling multifamily properties, exceptional knowledge of local markets, and a robust loan servicing operation to manage the life of every loan. With decades of expertise built on strong relationships, employees find that Northmarq is a challenging yet supportive workplace where they are able to advance their career aspirations and future.
