The Greater Seattle health industry is making a name for itself in China, thanks to Columbia Pacific. The Seattle-based real estate development and operating company, announced last week that it will be building a senior care facility in China. The 60,000 square foot and 110-bed facility will open this summer in southeast Beijing.
Columbia Pacific’s China-based affiliate, Cascade Healthcare, is partnering with Chinese developer Sino-Ocean Land to both develop and operate the facility. Cascade Healthcare is based in Seattle with offices in Tacoma, and is the first fully licensed foreign-invested senior care company in China. Its partnership with Sino-Ocean land is the first time a foreign senior living operator is working with a major Chinese developer.
Cascade Healthcare has already opened a senior care facility in Shanghai in 2012 and will open another one in Shanghai’s Pudong District this fall.
According to some estimates, China’s senior population will grow to 280 million people over the next 10 years.