Berkadia successfully refinanced La Conner Retirement Inn with an $11.35 million loan to optimize financial resources for the senior living facility in La Conner, Washington.

Information on the Target

The La Conner Retirement Inn is an esteemed independent and assisted living facility situated in the scenic Skagit County of Washington. Located at 204 North 1st Street in historic downtown La Conner, this community provides a well-rounded array of senior living options tailored to meet the diverse needs of its residents. Just under two hours from Seattle, it offers convenient access to waterfront attractions, museums, fine dining, wine bars, and other amenities located within striking distance of the town square.

The property boasts seven independent living cottages and a three-story building comprising 60 licensed assisted living units. Its design emphasizes thoughtfully crafted common areas and outdoor spaces, allowing for a smooth transition for seniors from independent living to assisted living, all within their current residences. The diverse range of floor plans available—ranging from studio to two-bedroom deluxe apartments—ensures that the needs of all residents can be accommodated effectively.

Industry Overview in Washington

Washington State's senior living and care industry has been characterized by significant growth and innovation in recent years. With an aging population demanding higher-quality care and housing options, the sector is witnessing an influx of investm