DALLAS--(BUSINESS WIRE)--Holliday Fenoglio Fowler, L.P. (HFF) advised Columbia Pacific Advisors on the $114.69 million financing for the development of 620 Terry, a luxury, high-rise seniors housing property in Seattle, Washington’s First Hill neighborhood.
The participating development loan was provided by HCP, Inc.
620 Terry will total 243 Class A residential units comprising 194 independent living units, 21 assisted living units and 28 memory care units. The 24-story property is due for completion in 2019 and will feature the highest level of amenities, care and treatment, including concierge services, a full-service restaurant, bistro/café, two bars and top-level club room providing sweeping mountain and city views. In addition, 620 Terry will have an auditorium, theater, wellness suite/gym and other activity spaces. Featuring architectural design by Ankrom Moisian, the project is situated within a five-block radius of three major area hospital systems (Harborview Medical Center, Swedish Medical Center/First Hill and Virginia Mason Medical Center) and is less than one mile from an array of lifestyle and entertainment amenities in downtown Seattle.
The HFF team representing the borrower included senior director David Fasano, director Sarah Anderson, managing director Casey Davidson and senior managing directors Ryan Maconachy and Chad Lavender.
About Columbia Pacific Advisors
Columbia Pacific Advisors, LLC (“CPA”) is a Seattle based alternative investment firm with over $2 billion of AUM*. Founded in 2006, CPA manages funds across multiple strategies including real estate lending, opportunistic, and real estate equity investments; and has a long legacy in the senior housing industry. Dan Baty, one of the founders, is a pioneer of the senior living industry, having founded Emeritus Corporation in 1993, and served as Chairman of Holiday Retirement Corporation until its sale to Fortress Investment Group in 2007. CPA is a leading developer of assisted living/memory care senior housing. Over the past 10 years funds managed by CPA have built, acquired or invested in over 35,000 units. For more information, visit http://columbiapacific.com/.
*As of December 31, 2017
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.