Capital One announced today that it has provided a $118.3 million Fannie Mae adjustable-rate loan to an investment vehicle managed by a Seattle-based alternative investment firm, Columbia Pacific Advisors. The proceeds were used to acquire fee interest in a previously leased four-property portfolio of independent living communities in California, Massachusetts, and North Carolina.
“Capital One’s ability to provide both agency and balance sheet solutions pairs well with our evolving needs.,” said Todd Seneker, Managing Director at Columbia Pacific. “In each instance, they have demonstrated an outstanding level of professionalism.” Earlier this year, Capital One provided a $242.7 million balance sheet loan to Columbia Pacific to finance its buyout of HCP’s share of a large joint venture.
“Our team previously provided a balance sheet transaction for Columbia Pacific which was delivered on time and with an attractive structure,” said Dague Retzlaff, Senior Vice President, Capital One Healthcare. “This time around, we were happy to leverage our expertise in agency lending to deliver a solution that worked well for all parties.”
The portfolio consists of El Dorado Estates in El Dorado Hills, California; Fairview Estates in Hopkinton, Massachusetts; Providence Meadows in Charlotte, North Carolina; and Williams Place in Davidson, North Carolina. Together, they total 518 units.
Capital One Healthcare is a leading provider of financial services to the industry. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers. Additional information can be found at capital.one/healthcare.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $248.2 billion in deposits and $364.0 billion in total assets as of June 30, 2018. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.
About Columbia Pacific Advisors
Columbia Pacific Advisors, LLC (“CPA”) is a Seattle based alternative investment firm with over $2.6 billion of AUM. Founded in 2006 by Alex Washburn, Stan Baty and Dan Baty, CPA manages funds across multiple strategies including real estate, real estate lending, opportunistic and hedged strategies. The firm utilizes deep fundamental research and seeks to generate compelling, consistent risk-adjusted returns for investors. For more information, please visit www.columbiapacific.com.
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