MONTEREY, Calif. — Sherman & Roylance has arranged the $8.3 million sale of a 55-bed assisted living and memory care community in the Central Coast city of Monterey. A San Diego-based husband and wife team purchased the asset from a new player in the seniors housing sector looking to focus on different geographic areas. The multi-phased campus was originally built in 1955 and expanded in 1999. Shep Roylance, John Sherman and Chris Minnery of Sherman & Roylance arranged the transaction.
ALBANY and CALABASAS, Calif. — BMO Healthcare Real Estate Finance acted as lead arranger and administrative agent on a term loan refinancing for two seniors housing communities located in Southern California. The two Class A communities are Belmont Village Calabasas in Calabasas and Belmont Village Albany in Albany and offer a combined total 315 units. The borrowers are the operator, Belmont Village Senior Living, and its capital partner, Harrison Street.
LOS ANGELES — Avison Young has arranged the $23.5 million sale of a seniors housing facility located at 6700 Sepulveda Blvd. in the Van Nuys neighborhood of Los Angeles. Boca Raton, Fla.-based Pinnacle Holdings of Florida sold the asset to an entity of California Healthcare & Rehabilitation Center, which currently operates the property. Situated on two acres, the 49,818-square-foot facility features 201 beds for seniors. Peter Sherman and Keith O’Donnell of Avison Young represented the seller in the off-market deal.
DANVILLE, Calif. — JLL Capital Markets has arranged $51.1 million in construction financing for a 50-unit active adult condominium development in Danville, located in the San Ramon Valley east of the Bay Area. Matt Cimino and Jordan Angel of JLL represented the borrowers, Jeff Stone of Diamond Construction and three high-net-worth individuals, in securing the financing from a Southern California-based lender. Located at 375 W. El Pintado, the development will feature 13 one-bedroom, 29 two-bedroom and eight three-bedroom condominium-style units. Community amenities include a lounge, game area, library, rooftop terrace …
CYPRESS, Calif. — BWE has arranged $46 million in permanent financing for Westmont of Cypress. The 129-unit, newly built, Class A independent living, assisted living and memory care community is located in the Orange County city of Cypress. Ryan Stoll and Taylor Mokris of BWE originated the loan, which a life insurance company provided.
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE) has participated in the origination of over $52 million in mezzanine loans. The financings are secured by three portfolios of 26 properties comprising 3,050 skilled nursing beds and 186 assisted living units in Virginia, Missouri, and California. CareTrust’s participation in the Virginia and Missouri mezzanine financings was done alongside a co-lender: the Northwind Group. Northwind’s healthcare portfolio includes investments in nearly 200 skilled nursing facilities and senior living communities. CareTrust provided $35 million in mezzanine loan proceeds in connection with the …
LOS ANGELES — California-based TCA Architects and Mercy Housing California have completed Burbank Boulevard Senior Housing, a permanent supportive housing development for seniors age 55 and older in Los Angeles’ Sherman Oaks neighborhood. Permanent supportive housing is a housing model that combines low-barrier affordable housing, healthcare and supportive services to help residents lead more stable lives, according to TCA Architects and Mercy Housing. Situated on three acres, Burbank Boulevard Senior Housing features 55 studio and one-bedroom units that accommodate single senior occupants. Each apartment features individual kitchens and bathing facilities. …
WOODLAND HILLS, Calif. — California Commercial Investment Group has acquired a 19-acre site adjacent to the iconic Motion Picture & Television Fund campus in Woodland Hills for $30 million. The buyer plans to develop a luxury senior living community encompassing approximately 300 units on the site. Construction is scheduled to begin in 2026 with completion planned for 2028. The property is located in the Santa Monica Foothills, approximately 30 miles west of Los Angeles. It is just steps from the Calabasas farmers market and adjacent to the Motion Picture & …
SAN BERNARDINO, Calif. — CareTrust REIT Inc. (NYSE: CTRE) has acquired The Villas at San Bernardino, a 78-unit assisted living and memory care facility located in the Inland Empire city of San Bernardino. In connection with its acquisition of the facility, CareTrust and a third-party regional healthcare real estate investor entered into a joint venture arrangement under which CareTrust provided a combined common equity and preferred equity investment amount totaling $10.7 million. CareTrust is the managing member of the joint venture entity. CareTrust’s initial contractual yield on its combined preferred …
SAN BERNARDINO, Calif. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Villas at San Bernardino, a 77-unit assisted living and memory care community in California’s Inland Empire. Built in 2003, the property totals 43,197 square feet on 1.35 acres of land. This was the seller’s only remaining seniors asset, as it plans to exit the industry. The buyer was an in-state owner-operator looking to grow its footprint in California. The price was not disclosed. Jason Punzel, Brad Goodsell, Vince Viverito and Jake Anderson of SLIB handled the …