Oregon Senior Living Development Lands $26M in C-PACE Financing

PACE Loan Group provided Mosaic with $25.6 million in C-PACE financing for Cedarbrook Senior Living, an assisted living and memory care facility located in Tigard, Oregon.

In addition to the C-PACE, the project’s $83.7 million capital stack includes a $41.6 million construction loan and mini-perm mortgage with Columbia Credit Union. This is the largest C-PACE transaction to date in Washington County, which has recently approved the continuation of its C-PACE program.

The project is expected to open in early 2028 and consists of a single four-story building featuring a mix of 107 assisted living units and 64 memory care beds. PLG worked closely with Countryman Capital Partners to orchestrate the capital stack, which required multi-party approval due to the involvement of several debt partners.

STEELE Associates Architects is the architectural firm for Cedarbrook Senior Living, Mosaic Construction operates as the general contractor, and Mosaic Management will manage the property.

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