Northmarq’s Seattle Debt + Equity team arranges $29.5 million refinance of Quail Park at Shannon Ranch
VISALIA, Calif. (Nov. 7, 2024) — Northmarq’s Seattle Debt + Equity team led by Managing Director Stuart Oswald successfully 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 Ave. in Visalia, California.
Northmarq 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 the first 5 years. The loan proceeds were used to retire a bridge loan Northmarq originated in 2021.
The community 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.
Quail Park at Shannon Ranch features studio, one- and two-bedroom floorplans as well as adjoining studio suites. Community amenities and services include a sports den, theater, pub, beauty salon, chef-prepared meals with signature anytime dining options, a fitness center with a swimming pool and regularly scheduled fitness classes, and an on-site personal trainer.
Room amenities include full-size kitchens, in-home washer/dryers, weekly housekeeping and linen services, scheduled transportation, and pet-friendly rooms with available personalized pet care.
The location boasts stunning views of the Sierra Nevada mountains as well as an abundance of shopping and casual dining nearby. It is conveniently located near a variety of healthcare providers, including Kaweah Health.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
