Northmarq’s Seattle Debt + Equity team, led by managing director Stuart Oswald, recently facilitated the $29.5 million refinancing of Quail Park at Shannon Ranch in Visalia. The community offers 120 units for independent living, assisted living and memory care and is located at 3440 W. Flagstaff Ave.
The financing was secured on behalf of Northwest Visalia Senior Housing LLC through a correspondent relationship with Poppy Bank of California. It features a 10-year term with interest-only payments for the first five years and will be used to pay off a bridge loan that Northmarq originated in 2021.
Quail Park is operated by Living Care Lifestyles based in Seattle, while the ownership group includes local investors from Visalia as well as Kaweah Health System of Visalia.
Oswald expressed gratitude for their longstanding relationship with Living Care Lifestyles spanning over two decades and including successful closings on 24 loans thus far.
