IRA Capital has secured $58 million in financing for Quail Park of Lynnwood, a 253-unit seniors housing community in Lynnwood, Wash.
Working on behalf of the borrower, JLL placed the three-year, floating-rate senior loan with a regional bank. JLL also sold the property to IRA Capital in June 2024.
Quail Park of Lynnwood was built in two phases, in 2013 and 2020. Phase one consists of 131 independent-living, assisted-living and memory-care units. Phase two offers 122 independent-living and assisted-living units, including 26 cottages and 16 enhanced assisted-living units for a full continuum of care. The cottages and the large-scale campus are the only product of their kind in the North Seattle market. Units are available in studio, one- and two-bedroom floor plans, averaging 720 square feet with full kitchens. Community amenities include a fitness center, movie theater, putting green, walking trails, bistro and pub, meditation room, sustainable gardening and a host of
