FRESNO, Calif. — MonticelloAM has provided an $87.2 million bridge loan for an assisted living portfolio in Fresno. The portfolio totals 39 communities. Proceeds from the loan will be used to refinance the existing debt on the properties, and the undisclosed borrower plans to secure long-term financing.
WESTLAKE VILLAGE, Calif. — LTC Properties, a real estate investment trust that invests primarily in seniors housing and health care properties, has announced the appointment of two new co-chief executive officers, Pam Kessler and Clint Malin. Kessler and Malin previously served as co-presidents of the company, with Kessler also acting as chief financial officer since 2007 and Malin holding the position of chief investment officer since 2004. The new appointments become effective Dec. 31 of this year. Wendy Simpson, who has acted as LTC Properties CEO since 2007, will continue to …
IRVINE, Calif. — JLL’s Capital Markets group and HJ Sims have arranged $473 million in tax-exempt and taxable bond financing for the ground-up development of The James, a luxury rental, 350-bed seniors housing community in Irvine. The transaction is the largest tax-exempt senior living financing of the year and largest nonprofit, single-site senior living bond issue in history, according to JLL. JLL’s Seniors Housing Capital Markets team worked on behalf of Harbert South Bay Partners, LAMB Properties, P3 Foundation and Momentum Senior Living to secure the 35-year financing with HJ Sims …
TORRANCE, Calif. — Cogir Senior Living has opened Cogir of South Bay, a 159-unit seniors housing community in Torrance, approximately 20 miles outside downtown Los Angeles. Situated near the Del Amo Fashion Center and two miles from the ocean, the property features independent and assisted living residences. Amenities at the community include multiple dining venues, a bistro, fitness center, theater, salon, art room and an outdoor amenity deck with a pool. Ryan Cos. US Inc. constructed the development on behalf of Cogir Senior Living.
HEALDSBURG, Calif. — David Smart has been named the new executive director of Ensō Village, a seniors housing community reserved for residents ages 60 and up in Healdsburg. Smart, who has more than two decades of experience in senior living and community management, will take on the role in January 2025. A collaborative initiative between the San Francisco Zen Center and The Kendal Corp., Ensō Village is a Zen-inspired Kendal Life Care Community, with a focus on mindful aging, sustainability and contemplative care. “There are so many things about Ensō Village …
SACRAMENTO, Calif. — DHI Hellenic Apartments L.P., a California-based limited partnership, has completed the renovation and rehabilitation of Hellenic Senior Apartments, an affordable senior’s housing property in the Pocket-Greenhaven area of Sacramento. Renovations included replaced roofs and siding, new energy-efficient systems and updates to common areas such as the clubhouse, leasing office and laundry facilities. All 70 units received new windows, sliding glass doors, energy-efficient appliances, dishwashers, modern kitchen cabinets and countertops. Fourteen units were upgraded to be fully ADA compliant, and several units received additional modifications to accommodate residents …
PLAYA VISTA, Calif. — Senior Resource Group (SRG), a developer and operator of luxury senior living communities, has assumed ownership and operation of Fountainview at Gonda in Playa Vista, a neighborhood in the Westside area of Los Angeles. The property was previously owned and operated by Los Angeles Jewish Health (LAJHealth). SRG is renaming the community Avocet Playa Vista. A continuing care retirement community, Avocet Playa Vista offers independent living, assisted living, memory care and integrated healthcare, including rehabilitative therapies. Residents own a long-term contract for care and services in a well-appointed private …
ENCINITAS, Calif. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Encinitas Terrace Senior Apartments, a 102-unit complex for tenants age 55 and older in Encinitas. The seller was Jones-Brogan 2011 Charitable Remainder Trust, and the buyer was Property West Residential. The sales price was not disclosed. Built in 1987, Encinitas Terrace Senior Apartments is an eight-building, two-and three-story community with a heated swimming pool, adjacent shuffleboard court, two gazebos and a clubhouse with a full kitchen. The unit mix features 98 one-bedroom apartments with open …
LOS ANGELES — EBSC Lending has arranged $31.2 million in construction financing for a new 172,163-square-foot luxury senior living community under development in Los Angeles. The borrower operates senior living facilities in the Southeast, with a primary focus on Florida. Brian Stark, manager of information technology at EBSC Lending, led the transaction. The facility will offer a total of 198 catered living, assisted living and memory care units in three buildings spread over a 7.8-acre campus. It will also feature gourmet restaurant-style dining, boutique hotel décor, and a variety of …
SYLMAR, Calif. — Hunt Capital Partners (HCP), in partnership with Alliance Property Group (APG) and Community Bible Community Development Corporation (CBCDC), has provided $37 million in federal Low-Income Housing Tax Credit (LIHTC) equity and $15.1 million in state LIHTC financing for the redevelopment and expansion of Valley Pride Village. The affordable seniors housing property is located in Sylmar, northwest of Los Angeles. The development project will preserve its 88 existing homes and introduce 92 new housing options. Valley Pride Village’s rehabilitation and expansion will help alleviate the urgent need for …
Newer Posts