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**JLL Closes Sale and Financing of Portland Senior Housing Property**
JLL has successfully completed the sale and financing of Morningstar at Happy Valley, an 87-unit assisted living and memory care community located in Portland, Oregon.
The property was marketed by JLL’s Seniors Housing Capital Markets team on behalf of the seller, Confluent Development. Harrison Street, in partnership with The Springs Living, acquired the asset and plans to rebrand it as The Springs at Sunnyside.
The JLL team representing the seller included Senior Managing Directors Jay Wagner, Rick Swartz, and Aaron Rosenzweig, along with Senior Directors Dan Baker and Jim Dooley, and Director Dean Ferris. On the financing side, JLL Senior Director Alanna Ellis led the efforts on behalf of the buyer.
The Springs Living will assume operational responsibilities for the community. JLL also arranged a five-year acquisition loan through Huntington National Bank, a longstanding lending partner of Harrison Street.
Originally completed in 2019, the community features 61 assisted living units in studio, one-bedroom, and two-bedroom layouts, as well as 26 private memory care units. The rebranded Springs at Sunnyside is set to continue providing quality care and living environments for seniors in the Portland area.
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