Scottsdale, AZ. — Cadence Living, a senior housing owner, developer and operator based in Scottsdale, Arizona, partnered with Dylan Investments, a boutique real estate investment firm based in Los Angeles, California, to acquire the Tanner Spring assisted living and memory care community in the affluent Portland suburb of West Linn, Oregon. Tanner Spring is stabilized and comprised of 88 units with 62 assisted living units and 26 memory care units. The partnership also acquired the adjacent vacant land and has plans to add 100 residential units in the future. Orix Securities advised the seller on the transaction and Blueprint Healthcare Real Estate advised the buyer.
“We have been focused on the northwest for our growing portfolio,” stated Cadence Principal Rob Leinbach. “Tanner Spring has a terrific reputation and we love the West Linn neighborhood. It is a unique property with sweeping views of the Willamette River valley that we believe is well positioned for the long term. We look forward to partnering with Dylan on executing our collective vision for this exciting community.”
Cadence Living is currently developing, owns and/or operates communities throughout the south and west. What sets Cadence apart is the company’s devoted approach to creating healthy, vibrant communities that offer residents exceptional independent living, assisted living and memory care lifestyle options. The name “Cadence” underlines the company’s personal philosophy that each community should aspire, create and respond to life’s natural rhythms to enliven and enrich the experience of residents. For more information on Cadence Living, visit www.CadenceSL.com.