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Cedarbrook Senior Living Project Secures $25.6M in C-PACE Financing
PACE Loan Group has provided $25.6 million in Commercial Property Assessed Clean Energy (C-PACE) financing to Mosaic for the development of Cedarbrook Senior Living, an assisted living and memory care facility located in Tigard, Oregon.
Complementing the C-PACE financing, the project’s $83.7 million capital stack includes a $41.6 million construction loan and mini-perm mortgage from Columbia Credit Union. This transaction marks the largest C-PACE deal to date in Washington County, which recently reaffirmed the continuation of its C-PACE financing program.
Cedarbrook Senior Living is projected to open in early 2028. It will feature a single four-story building comprising 107 assisted living units and 64 memory care beds. PACE Loan Group collaborated with Countryman Capital Partners to structure the complex financing arrangement, which required multi-party approval due to the multiple lenders involved.
STEELE Associates Architects is serving as the project’s architectural firm. Mosaic Construction is the general contractor, and Mosaic Management will operate the facility upon completion.
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