Timber Ridge Life Plan Community – Issaquah (East Seattle), Washington – Life Plan Community – Developed by Westminster Funds V and VI

Opportunity

Entrance-Fee, Life Plan Community joint-venture investment with national owner-operator Life Care Services, LLC. Located in Issaquah, WA, Timber Ridge is approximately 18 miles southeast of Seattle, WA in the foothills of the Cascades. Project was completed in two phases totaling 401 units: 330 independent living units, 14 assisted living units, 12 memory care units and 45 skill nursing units. After Phase II stabilized along with previously constructed Phase I, Timber Ridge was sold to a joint-venture of Life Care Services, LLC and National Health Investors in January 2020, generating a 13.0% IRR and an Equity Multiple of 5.2 to 1.

Property

Two-Phase Life Plan Community Senior Living Facility

Size

401 Units

Built

2008/2014

Ownership:

Westminster Funds V and VI

Sold

January 2020

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