JLL arranges $28M sale and financing of Pacific Northwest seniors housing community
Van Mall Retirement is a 191-unit Independent / Assisted Living Community in Vancouver, Washington
BOSTON, July 15, 2024 – JLL Capital Markets announced today that it has arranged the $28 million sale of Van Mall Retirement, a 191-unit senior living community located in the Portland, Oregon, suburb of Vancouver, Washington.
JLL represented the seller, Lytle Enterprises, and procured the buyer, a regional Pacific Northwest owner and operator. In addition, JLL procured acquisition financing from a regional bank on behalf of the buyer.
Van Mall is located at 7808 NE 51st St., adjacent to the Vancouver Mall and approximately 10 minutes from Downtown Vancouver and Portland International Airport. Additionally, the property is conveniently located close to Interstate 205, State Route 500 and Interstate 5, providing access to the greater Vancouver and Portland area.
Originally constructed in 1989 and expanded in 1994, Van Mall 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.
The JLL Capital Markets team was led by Senior Managing Directors Jay Wagner, Rick Swartz and Aaron Rosenzweig, Senior Director Alanna Ellis, and Directors Dan Baker and Dean Ferris.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Lytle Enterprises
With a long history of leadership and having been at the forefront of the senior housing industry for over four decades, Lytle Enterprises is well-respected in the senior housing industry. Continuing to explore ways to improve the lives of their residents is a cornerstone of Lytle Enterprises. The company’s innovation led the way in the introduction of hotel-style design and amenities, health and wellness programs, travel and concierge services, restaurant-style dining, and other senior-focused services that are commonplace throughout the industry today. Lytle Enterprises helped define the best in senior living and continues to influence the design and operation of retirement communities. The company is committed to the highest standards for its residents, partners, and investors.