PORTLAND, Ore. — Marcus & Millichap (NYSE: MMI has arranged the sale of two seniors housing properties in Oregon for a total of $21.6 million.
Hawthorne Gardens Assisted Living, a 58-unit, 84-bed assisted living and memory care facility in Portland, sold for $10.8 million. Skylark Assisted Living, a 75-unit assisted living and 34-bed memory care facility in Ashland, which sold for $10.8 million.
Located in East Portland, Hawthorne Gardens was built in 2007 and was 88 percent occupied at the time of the sale. Skylark Assisted Living, located within the Mountain Meadows age-restricted community, opened in 1997. Skylark was 90 percent occupied at the time of the sale.
Dan Mahoney and Tony Cassie, directors of Marcus & Millichap’s National Seniors Housing Group in Portland, represented the sellers and procured the buyers in both transactions.