The Seattle Debt + Equity team at Northmarq, led by managing director Stuart Oswald, successfully facilitated the $29.5 million refinancing of Quail Park at Shannon Ranch. This 120-unit community offers independent living, assisted living and memory care services and is located in Visalia at 3440 W. Flagstaff Ave.
Northmarq secured financing for Northwest Visalia Senior Housing LLC through a correspondent relationship with Poppy Bank of California. The loan has a term of 10 years with interest-only payments for the first five years and was used to pay off a bridge loan that Northmarq had originated in 2021.
Living Care Lifestyles, based in Seattle, operates this community while its ownership group includes investors local to Visalia as well as Kaweah Health System of Visalia.
Oswald expressed his gratitude for the long-standing relationship between Northmarq and Living Care Lifestyles which has resulted in successful loan closings over two decades totaling to twenty-four transactions.
