Capital One announced that it has provided a $118.3 million Fannie Mae adjustable-rate loan to an investment vehicle managed by Seattle-based alternative investment firm, Columbia Pacific Advisors. The proceeds were used to acquire fee interest in a previously leased four-property portfolio of independent living communities in California, Massachusetts, and North Carolina.

“Capital One’s ability to provide both agency and balance sheet solutions pairs well with our evolving needs.,” said Todd Seneker, Managing Director at Columbia Pacific. “In each instance, they have demonstrated an outstanding level of professionalism.” Earlier this year, Capital One provided a $242.7 million balance sheet loan to Columbia Pacific to finance its buyout of HCP’s share of a large joint venture.

“Our team previously provided a balance sheet transaction for Columbia Pacific which was delivered on time and with an attractive structure,” said Dague Retzlaff, Senior Vice President, Capital One Healthcare. “This time around, we were happy to leverage our expertise in agency lending to deliver a solution that worked well for all parties.”

The portfolio consists of El Dorado Estates in El Dorado Hills, California; Fairview Estates in Hopkinton, Massachusetts; Providence Meadows in Charlotte, North Carolina; and Williams Place in Davidson, North Carolina. Together, they total 518 units.