Granite Investment Group acquires memory care facilities
Granite Investment Group recently acquired the Tabor Crest Memory Care Portfolio. This portfolio consists of two memory care facilities located in Portland, OR.
Between the two memory care facilities, there are 60 beds. One facility was built in 2016. The other has undergone significant improvements since the sellers acquired it in 2004. The facilities will be managed by the seniors housing division of Avalon Health Care Group.
Congressional Bank provided the bridge loan, and Housing and Healthcare Finance processed the HUD loan.
Granite Investment Group is based in Irvine, CA. They manage a variety of commercial real estate assets.