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| Chad Lavender |
DALLAS, TX –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and secured
acquisition financing for Queen Anne
Manor, a historically significant, four-story, 93-unit, Class A seniors
housing community in Seattle, Washington’s Upper Queen Anne neighborhood.
HFF marketed the property
exclusively on behalf of the seller.
Capitol Seniors Housing acquired the asset for $36.25 million free and
clear of existing debt.
Additionally, HFF assisted
the buyer in securing a $24.995 million, seven-year, floating-rate loan through
Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program. The securitized loan will be serviced by HFF
through its Freddie Mac Program Plus® Seller/Servicer program. Milestone Retirement Communities, LLC will
manage the property.
Queen Anne Manor has 54
assisted living units and 39 memory care units averaging 294 square feet
each. Renovated most recently in 2015,
the west building of the property was originally built in 1908 and the east
building was completed in 1927.
Community amenities
include a rooftop garden; secure rooftop memory care sky bridge and deck with
sweeping views of the Olympic Mountains and Space Needle; hair salon; planned
activities and social services; various dining venues; scheduled
transportation; and resident laundry facilities.
\
The property is 96 percent
leased and is situated on 1.01 acres at 100 Crockett Street, approximately four
miles north of downtown near the Lake Union waterfront.
The HFF team was led by
senior managing directors Ryan Maconachy
and Chad Lavender and associate
director Sarah Baccich.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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