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Affordable HousingCaliforniaDevelopmentFinanceNews

Alameda Housing Authority Receives $20.6M for North Housing Affordable Community in California

by Jeff Shaw

ALAMEDA, Calif. — The Alameda Housing Authority (AHA) has received $20.6 million from the State of California Department of Housing and Community Development. The funds will support development of North Housing Senior Apartments, an affordable housing community in the island city, located just south of Oakland in San Francisco Bay. North Housing is the first phase of a long-planned community development project. Plans call for 40 studio apartments, 23 one-bedroom units and a two-bedroom residence for the onsite manager. The land, which AHA originally owned in the 1940s, was granted …

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Assisted LivingCaliforniaDevelopmentNews

Clearwater Living Opens 117-Unit Community in Glendora, California

by Jeff Shaw

GLENDORA, Calif. — Clearwater Living has opened Clearwater at Glendora, a 117-unit assisted living and memory care community in Glendora. The property is a two-story, 117,000-square-foot property offering 88 assisted living and 29 memory support apartments with studio, companion, one- and two-bedroom layouts. It is the only assisted living and memory care community in Glendora, according to the developer. Clearwater at Glendora is the company’s 10th seniors housing community in California, Arizona and Nevada, with plans for additional developments in the pipeline.

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CaliforniaDevelopmentNews

Belmont Village Senior Living Breaks Ground on 177-Unit Project in San Ramon, California

by Jeff Shaw

SAN RAMON, Calif. — Belmont Village Senior Living, in partnership with Sunset Development, has broken ground on Belmont Village San Ramon. Located within the Bishop Ranch neighborhood of San Ramon, the 175,320-square-foot community will feature a heated saltwater pool, putting green, farm-to-table gardening areas, al fresco dining, outdoor yoga lawn and group fitness space, and a dog park. Slated for completion by fall 2024, Belmont Village San Ramon will feature 177 studio, one- and two-bedroom residences for independent living, assisted living and memory care needs. Aron Will, Tim Root and …

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Assisted LivingCaliforniaFinanceIllinoisNews

Bellwether Arranges $47M Refinancing for Communities in Chicago, San Jose

by Jeff Shaw

CHICAGO and SAN JOSE — Bellwether Enterprise Real Estate Capital LLC (BWE) has arranged two separate transactions totaling over $47 million to refinance two assisted living and memory care communities. The first is a $28.8 million loan to refinance an assisted living and memory care community in the Chicago metropolitan area on behalf of affiliates of a senior housing-focused private equity firm. The second is an $18.6 million loan to refinance an assisted living and memory care community in San Jose on behalf of affiliates of Westmont Living. Ryan Stoll …

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Assisted LivingCaliforniaFinanceNews

Lument Provides $7.5M Fannie Mae Refinancing for Carlton Senior Living in Sacramento

by Jeff Shaw

SACRAMENTO — Lument has provided a $7.5 million Fannie Mae loan to refinance Carlton Senior Living, a 56-unit assisted living community in Sacramento. Built in 2008, Carlton Senior Living is located on the Carlton Senior Living Continuum of Care Campus, next to a 128-unit assisted living and memory care community that was refinanced in 2016, also with assistance from Lument. When it first opened, Carlton Senior Living was serving high-acuity assisted living residents. In 2021, the borrower altered its strategy and catered it services more toward traditional assisted living. The …

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CaliforniaFinanceNewsNorth CarolinaTexas

Cushman & Wakefield Arranges $51M Refinancing of Three-Property Kisco Portfolio

by Jeff Shaw

ESCONDIDO, Calif; SAN ANTONIO; and WINSTON-SALEM, N.C. — Cushman & Wakefield has arranged $51 million in financing for Kisco Senior Living. The loan refinances debt on three Kisco properties: Cypress Court in Escondido, Villa de San Antonio in San Antonio and Heritage Woods in Winston-Salem. The properties provide independent living and assisted living services. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Sam Dylag represented the borrower in the transaction. A national bank provided the capital.

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AcquisitionsCaliforniaNewsSkilled Nursing

Blueprint Brokers Sale of 150-Bed Rehabilitation Centre of Beverly Hills in Los Angeles

by Jeff Shaw

LOS ANGELES — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Rehabilitation Center of Beverly Hills, a 150-bed skilled nursing facility in Los Angeles. The Rehabilitation Centre of Beverly Hills is a premier, state-of-the-art, all Medicare nursing facility located near Cedars-Sinai Medical Center, one of the most prestigious hospitals in the United States. A private, high-net-worth owner-operator based in Los Angeles was the buyer. The seller and price were not disclosed.

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AcquisitionsCaliforniaNews

SLIB Arranges Sale of Senior Care Villa of Loomis in California

by Jeff Shaw

LOOMIS, Calif. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Senior Care Villa of Loomis. The facility consists of 26 units and was built in 2000. It totals approximately 15,000 square feet and on 2.5 acres of land in Loomis, 25 miles northeast of Sacramento. The seller was a family owner-operator seeking to retire. The buyer is a Southern California-based investment group looking to expand its portfolio within the state. The price was not disclosed. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction. …

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AcquisitionsCaliforniaNews

SLIB Negotiates Sale of 144-Unit Community in Oceanside, California

by Jeff Shaw

OCEANSIDE, Calif. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Merrill Gardens Oceanside. The 144-unit independent living, assisted living and memory care community is located in Oceanside, a coastal city between Los Angeles and San Diego. The community was built in 1999, totaling approximately 96,905 square feet on 4.4 acres of land. The seller was an East Coast-based private equity firm. The buyer is a Southern California-based investment group, with this being their first seniors housing acquisition. The price was not disclosed. Jason Punzel, Brad Goodsell and …

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