California

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AcquisitionsAssisted LivingCaliforniaMemory CareNews

Broadview Real Estate Partners Sells 100-Unit Community in Metro Los Angeles

by Hayden Spiess

NORTH TUSTIN, Calif. — Broadview Real Estate Partners has sold Clearwater at North Tustin, a 100-unit seniors housing community located in North Tustin, approximately 35 miles southeast of downtown Los Angeles. Health Wave Partners acquired the property for an undisclosed price.  Built in 2021, Clearwater at North Tustin comprises two acuity-specific, single-story buildings with assisted living and memory care residences. Amenities at the community include an outdoor amphitheater, music garden, salon and spa, art studio, wellness center, dog park and four courtyards.  Aaron Rosenzweig and Dan Baker of JLL Capital Markets …

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Assisted LivingCaliforniaDevelopmentMemory CareNews

O&I Development Underway on $33M Development in Greater Los Angeles

by Hayden Spiess

ARCADIA, Calif. — O&I Development is currently underway on They Ivy Arcadia, a new senior living community located in Arcadia, roughly 20 miles northeast of downtown Los Angeles.  Upon completion, the $33 million development will total 100 units of assisted living and memory care. R.D. OIson Construction is serving as the general contractor for the project. The project team also includes b.hills architecture and STUDIOSIX5. Amenities at the property will include a fitness center with specialized treatment rooms for memory care and mobility support, dining areas, a reading room, bar and …

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AcquisitionsAssisted LivingCaliforniaMemory CareNews

Berkadia Brokers Sale of 135-Unit Community on San Francisco Bay

by Hayden Spiess

SAN MATEO, Calif. — Berkadia has brokered the sale of Atria Park of San Mateo, a 135-unit assisted living and memory care community located in San Mateo on the western shores of San Francisco Bay.  A partnership between Shelter Real Estate Investment Properties and Calson Management acquired the property for an undisclosed price. The community will be rebranded as Harbor at Hillsdale.  Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders of Berkadia arranged the transaction on behalf of the undisclosed seller. 

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AcquisitionsAssisted LivingCaliforniaFinanceMemory CareNews

BMO Healthcare Real Estate Provides Acquisition Financing for 156-Unit Belmont Village Community in California

by Hayden Spiess

ALISO VIEJO, Calif. — BMO Healthcare Real Estate has provided financing for the acquisition of Belmont Village Aliso Viejo in Aliso Viejo. Harrison Street Asset Management is the borrower.  Opened in 2019, the Southern California community totals 156 assisted living and memory care units. Belmont Senior Living developed and operates the property.  Harrison Street currently has more than $108 billion in assets under management. 

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AcquisitionsAssisted LivingCaliforniaMemory CareNews

Sunny Hills Management Co. Acquires 168-Unit Property in Southern California

by Hayden Spiess

CARLSBAD, Calif. — Sunny Hills Management Co. has acquired Laguna Estates Senior Living, a 168-unit seniors housing property located in Carlsbad, an affluent coastal city in southern California. The seller and sales price were not disclosed.  Laguna Estates features a mix of assisted living and memory care units across four buildings. Amenities at the community include an activity room, salon, billiards room, fitness center, movie room, piano room, putting green and swimming pool.  Aaron Rosenzweig and Dan Baker of JLL Capital Markets arranged the sale on behalf of the seller. 

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Assisted LivingCaliforniaFinanceNewsSkilled Nursing

Helios Arranges Refinancing for 165-Bed Skilled Nursing, Assisted Living Portfolio in Southern California

by Hayden Spiess

FILLMORE and SAN BERNADINO, Calif. — Helios Healthcare Advisors has arranged the refinancing of a two-property portfolio in California. EVA Care Group was the borrower.  The portfolio totals 165 beds across a skilled nursing facility in San Bernardino and an assisted living community in Fillmore. According to Helios, both properties were previously mortgage free, allowing for greater liquidity.  Helios secured funding through a private credit fund. The financing was structured to strengthen working capital throughout the borrower’s broader portfolio. 

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AcquisitionsAssisted LivingCaliforniaIndependent LivingNews

Azure Partners Acquires 148-Unit Community in San Diego

by Hayden Spiess

SAN DIEGO — Azure Partners has acquired Cypress Court, a senior living community located in San Diego.  Totaling 148 units, the property features 76 independent living and 72 assisted living residences. Kisco Senior Living sold the community for an undisclosed price. JLL Capital Markets brokered the transaction on behalf of the seller. JLL also secured a 10-year acquisition loan through Freddie Mac on behalf of Azure.  “Azure is very excited about the acquisition of Cypress Court as our entrance into seniors housing, and we aim to rapidly expand our portfolio in …

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Assisted LivingCaliforniaDevelopmentIndependent LivingMemory CareNews

CCI to Develop 236-Unit Senior Living Community in Southern California

by Hayden Spiess

WOODLAND HILLS, Calif. — CCI has announced plans for the development of a 236-unit luxury senior living community in Woodland Hills, roughly 25 miles northwest of Los Angeles.  Upon completion, Livelle Mulholland will feature 200 independent living units, seven villas, 16 assisted living apartments and 13 memory care units. LCS will manage the community.  Amenities at the property will include a wellness center with therapy pools, nature trails and outdoor game courts, underground and attached garage parking, a restaurant, wine bar and rooftop lounge, indoor and outdoor theaters and classrooms.  Construction …

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AcquisitionsAssisted LivingCaliforniaFinanceMemory CareNews

Berkadia Arranges Sale, Financing of Two Communities in Southern California

by Hayden Spiess

SAN DIEGO and LOS ANGELES — Berkadia has arranged the sale and financing of two senior living communities located in Southern California.  Situated within suburbs of San Diego and Los Angeles, respectively, the properties include an 84-unit assisted living community and a 72-unit memory care community. Together, the communities were roughly 90 percent occupied at the time of financing.  Mike Garbers, Cody Tremper, Ross Sanders and Dave Fasano of Berkadia brokered the sale on behalf of the seller, a private owner. Ed Williams and Steve Muth of Berkadia secured acquisition financing …

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AcquisitionsCaliforniaNews

SLIB Arranges Sale of 132-Unit Community in Brentwood, California

by Hayden Spiess

BRENTWOOD, Calif. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Westmont of Brentwood, a 132-unit community in Northern California. Built in 2007 and situated on 4.5 acres approximately 45 miles east of Oakland, California, the property offers independent living, assisted living and memory care services. The sales price was not disclosed. The buyer, an unnamed private equity group with a background in seniors housing, is partnering with an established West Coast operator that is expanding its presence in California. With the sale of Westmont of Brentwood, the …

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