Gantry Arranges $12M Capital Package for Oregon Senior Housing Project

Gantry has successfully arranged a $12 million construction-to-permanent loan to fund the development of a new assisted living community in Woodburn, Oregon. The financing package will support the construction of a 46-unit facility designed to accommodate 51 beds, adding significant inventory to the regional senior housing supply.

According to Connect CRE, the project is currently underway at 1000 Country Club Road NE. The site was strategically selected due to its proximity to Heartwood Place Memory Care, creating a clustered campus of senior services. Both properties fall under the ownership and management umbrella of Benecia Senior Living, a firm that appears to be deepening its footprint in the Oregon market. Gantry Director Charlie Kokernak played a pivotal role in securing the capital for the deal.

Key Details

The financing structure is a hybrid construction-to-permanent loan, a vehicle that provides developers with the flexibility to transition from the building phase directly into long-term stabilization without the friction of refinancing. The specs of the project include:

• Location: 1000 Country Club Road NE, Woodburn, OR
• Size: 46 units comprising 51 beds
• Sponsor: Benecia Senior Living
• Adjacent Asset: Heartwood Place Memory Care
• Financing: $12 million arranged by Gantry

This co-location strategy with the existing memory care facility suggests an operational play to capture different levels of acuity within the same geographic footprint, potentially streamlining staffing and administrative overhead.

Market Impact

For commercial real estate professionals, this transaction offers a signal of resilience in the seniors housing sector. While the broader multifamily and office markets face liquidity constraints and valuation uncertainty, the assisted living niche continues to attract capital—particularly for purpose-built developments in growing submarkets like Woodburn, which sits between the Portland and Salem metro corridors.

The use of a construction-to-permanent loan is particularly notable in the current interest rate environment. Lenders are generally more risk-averse regarding ground-up development, yet Gantry’s ability to close this deal indicates that proven sponsors with strategic site selection can still access favorable debt structures. As the demographic wave of aging baby boomers continues to drive demand fundamentals, investors should expect to see more activity in markets that offer operational efficiencies, such as campuses with multiple levels of care. This deal underscores the importance of sponsorship quality and location strategy in unlocking capital for healthcare real estate development.