Greystar Acquires Nordheim Court & Radford Court Senior Housing With $183M Loan

The senior housing property located at 5000 25th Avenue Northeast & 6301 65th Avenue Northeast in Seattle, WA was acquired by Provident Resources Group Inc with the assistance of Greystar Real Estate Partners. The acquisition was financed with a $183 million loan in the form of tax-exempt bond financing. Nordheim Court and Radford Court, on-campus communities at the University of Washington, are now owned by Provident Resources Group under a ground lease with UW.

Summary of transation details:

• Property Type: Senior Housing
• Transaction Amount: $183,000,000
• Address: 5000 25th Avenue Northeast & 6301 65th Avenue Northeast, Seattle, WA
• Market: Seattle, WA
• Landlord: Provident Resources Group Inc
• Broker: Greystar Real Estate Partners
• Loan Type: Acquisition

Greystar Real Estate Partners played a key role in securing the $183 million tax-exempt bond financing for the acquisition of the senior housing property. The deal involved unique arrangements with the University of Washington, allowing Provident Resources Group Inc to take ownership of Nordheim Court and Radford Court. The transaction showcases the strategic partnerships and financing expertise that were instrumental in finalizing the acquisition.