Timber Ridge Life Plan Community – Issaquah, Washington – 401 Unit Life Plan Community Senior Living Development – 80% Owned by Westminster Fund V, 20% by Fund VI

Opportunity

Entrance-Fee Life Plan Community joint-venture investment with national developer and operator Life Care Services, LLC, located in Issaquah, WA, approximately 18 miles southeast of Seattle, WA in the foothills of the Cascades. Project was completed in two phases, totaling 401 units including 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 an IRR of 13.0% 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 Fund V (80%),

Fund VI (20%)

Sold

January 2020

VIEW PROJECT LOCATION