MidCap closes $14.45 million Oregon seniors facility deal

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MidCap Financial announced it had closed a transaction with Living Care Lifestyles on Quail Park at Crystal Terrace in Klamath Falls, OR, for a $14.45 million first mortgage floating rate loan.

The loan will let the facility refinance existing debt on the 87-unit community, which has independent and assisted living, plus allow construction of a 36-bed memory care facility.

Living Care Lifestyles is a Washington-based operator of 10 senior housing facilities across five states in the Western United States. Quail Park at Crystal Terrace will become a seniors housing campus complemented by an adjacent skilled nursing facility operated by Marquis Companies.