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7/17/24
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Van Mall Retirement, a 191-unit senior living community located in Vancouver, WA, was purchased by a Pac Northwest-based owner/operator in a $28 mil ($146.6k/unit) transaction. The asset was sold by Lytle Enterprises.
Van Mall is located at 7808 NE 51st St, adjacent to the Vancouver Mall and approximately 10 minutes from Downtown Vancouver and Portland International Airport. Additionally, the property is conveniently located close to Interstate 205, State Route 500 and Interstate 5, providing access to the greater Vancouver and Portland area.
Originally constructed in 1989 and expanded in 1994, Van Mall offers both independent and assisted living units available in one- and two-bedroom layouts. All of the units are pet-friendly, and residents have access to an on-site theater, salon and barbershop, fitness center, activity and games room, arts and crafts studio, library and bistro.
Jay Wagner, Rick Swartz, Aaron Rosenzweig, Alanna Ellis, Dan Baker and Dean Ferris with JLL represented the seller and procured the buyer in the transaction. In addition, JLL procured acquisition financing from a regional bank on behalf of the buyer.
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