IRVINE, CA / ACCESS Newswire / June 25, 2026 / IRA Capital ("IRA"), a real estate private equity firm based in Irvine, California, and Artemis Real Estate Partners ("Artemis") announced the closing of a $235 million loan financing secured by a portfolio of two Class-A newly constructed luxury senior housing communities in Bellevue, Washington, and Portland, Oregon. Over the past two years, IRA has identified unique opportunities within the private credit market, originating approximately $550 million in debt investments across multiple industries. Artemis has deep experience in the healthcare real estate sector and has utilized its operational expertise to invest across the capital stack, originating approximately $1 billion in healthcare debt investments. This transaction marks another milestone in the continued partnership between Artemis & IRA and reflects the firms' conviction in the long-term fundamentals of the senior housing sector.
Two Class-A Luxury Senior Living Communities Totaling 534 Units Across Bellevue, WA, and Portland, OR
The portfolio comprises two new vintage, purpose-built, high-rise senior housing communities situated in premier downtown locations within two of the most affluent and supply-constrained markets on the West Coast. Together, the properties total 534 units averaging and offers a full continuum of care including independent living, assisted living, and memory care. Each community features best-in-class amenities, including multiple dining venues, state-of-the-art wellness and fitness facilities, private balconies, and full in-unit kitchens.
Watermark at Bellevue is a 291-unit institutional-quality senior housing campus spans two buildings, featuring independent living residences within a 20-story high-rise tower and assisted living and memory care residences within an adjacent seven-story mid-rise building.
Watermark at The Pearl is a 243-unit luxury senior housing community located in Portland's highly desirable Pearl District and serves one of the city's most affluent urban neighborhoods, and benefits from strong demographic fundamentals and limited competitive supply.
The borrower is a joint venture between a leading national residential developer and a globally recognized institutional real estate investment manager. The sponsorship group has a demonstrated track record of developing, operating, and investing in institutional-quality real estate assets and brings extensive experience within the senior housing sector.
Jay Gangwal, Co-Founder and Managing Partner at IRA Capital, commented "This transaction is a strong reflection of where our credit platform is headed. We continue to see compelling bridge financing opportunities, and we believe our ability to structure complex, institutional-quality financings is a meaningful differentiator for IRA". Hiren Patel, Deal Lead, Investments, added "The senior housing market remains one of the most attractive in the country, driven by deep demographic tailwinds and a significant undersupply of high-quality inventory. These assets are a great example of the types of opportunities we are focused on, well-located, purpose-built communities in markets with strong long-term fundamentals".
Kevin Nishimura, Senior Managing Director at Artemis Real Estate Partners, commented "The transaction is typical of our strategy of creating attractive risk-adjusted returns up and down the capital stack in the senior housing space. Artemis was able to leverage its deep capital markets and senior housing relationships to structure a mutually beneficial transaction for all parties."
About IRA Capital
Founded in 2010, IRA Capital is a Southern California-based private equity firm specializing in commercial real estate assets throughout the United States, with a strategic concentration in the medical and healthcare sectors. IRA invests both for its own account and partners with institutional investors and family offices to deploy capital with disciplined capital stewardship and long-term alignment. Since inception, IRA has acquired over 12.5 million square feet of property across 32 states, representing over $4 billion in total capitalization. To learn more, visit www.iracapital.com.
For more information, please contact:
IRA Capital Investor Relations
investorrelations@iracapital.com
About Artemis Real Estate Partners
Artemis Real Estate Partners, a Barings company is a real estate investment platform that has acquired over $21 billion gross purchase price of assets in more than 350 investments since its founding in 2009. Artemis is based in Washington, DC, and makes equity and debt investments across the U.S. in core, core plus, value add and opportunistic real estate. Artemis specializes in joint venture partnerships with established, diverse, and emerging operating partners and direct investments. To learn more, visit ArtemisREP.com.
For more information, please contact:
Artemis Investor Relations
investorrelations@artemisrep.com
SOURCE: IRA Capital
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/real-estate/ira-capital-and-artemis-real-estate-partners-advances-credit-strategy-with-235-million-1182137
