Friday, May 2, 2025
Read the Magazine Subscribe

California

CaliforniaCCRCDevelopmentFinanceNews

Ziegler Arranges $43.8M Bond Financing for Mt. San Antonio Gardens in Inland Empire

by Jeff Shaw

POMONA and CLAREMONT, Calif. — Ziegler has arranged $43.8 million in bond financing for Congregational Homes in support of its continuing care retirement community, Mt. San Antonio Gardens. The Gardens is located on approximately 31 acres spanning across the border of Pomona and Claremont in the Inland Empire area of California. The community features 248 independent living units, 71 assisted living units, 10 memory care units and 58 skilled nursing beds. Proceeds of the bonds will be used to finance a project that will replace the community’s original D Building …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaDevelopmentNews

Consolidated Contracting Completes 122-Unit WellQuest of Menifee Lakes in California

by Jeff Shaw

MENIFEE, Calif. — Consolidated Contracting has completed construction of WellQuest of Menifee Lakes, a senior living community in Menifee, located between Los Angeles and San Diego. The 134,641-square-foot, three-story property features 92 independent living and assisted living units ranging from 470 to 1,017 square feet, as well as 30 memory care units ranging from 386 to 578 square feet. Jonetta Eads, executive director of the facility, predicts the community will be fully occupied by mid-summer. Project consultants included Greg Irwin of Irwin Partners Architects as the architect; Conley360, space planner; …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingCaliforniaDevelopmentNews

Sunrise Senior Living Opens 92-Unit Assisted Living Community in Silicon Valley

by Jeff Shaw

REDWOOD CITY, Calif. — Sunrise Senior Living has opened Sunrise of Redwood City, an assisted living and memory care community in the Silicon Valley municipality of Redwood City. The community features 56 assisted living units, 19 memory care units and 17 “Terrace Club” units for those with mild to moderate memory loss. Sunrise is one of the largest senior living providers in the U.S. and Canada, with the capacity to serve more than 28,000 seniors across 274 communities.

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaFinanceNewsSkilled NursingUtah

Walker & Dunlop Arranges $77M in Financing for 848-Unit Skilled Nursing Portfolio

by Jeff Shaw

UTAH and CALIFORNIA — Walker & Dunlop has structured $77.1 million in financing for two large skilled nursing portfolios totaling ten properties and 848 units. The Cascades Portfolio, located throughout Utah, totals seven properties and 693 units. The Rollins-Nelson Portfolio includes three properties and 155 units located in Englewood, Long Beach and Perris, California. Walker & Dunlop’s Kevin Giusti, Brian Neal and Andrew Westling arranged the transactions. The team utilized three different capital solutions for the Cascades Portfolio, including financing through the Department of Housing and Urban Development (HUD), a …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingCaliforniaFinanceNews

Grandbridge Funds $30.4M Loan for Sunset at Normandie Towers Affordable Community in Los Angeles

by Jeff Shaw

LOS ANGELES —Grandbridge Real Estate Capital has provided a $30.4 million first mortgage loan secured by Sunset at Normandie Towers, a 148-unit Section 8 senior living facility in Los Angeles. Artin Anvar originated the refinancing transaction through HUD’s 223(f) loan insurance program. The loan features a 35-year term and 35-year amortization. “The owners of Sunset Normandie were able to lock a very low fixed rate for 35 years allowing for the preservation of the much-needed affordable housing in Los Angeles,” says Anvar. “As a repeat HUD borrower they were able …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaNewsOperationsSkilled Nursing

Ensign Group to Operate Two Skilled Nursing Facilities in Southern California

by Jeff Shaw

INDIO and SAN BERNARDINO, Calif. — The Ensign Group, Inc. (NASDAQ: ENSG) has acquired the operations of two skilled nursing facilities in Southern California. The assets include Arrowhead Springs Healthcare, a 119-bed skilled nursing facility located in San Bernardino, and Desert Mountain Care Center, a 99-bed skilled nursing facility located in Indio. The acquisition of Arrowhead Springs Healthcare includes the real estate and operations at the facility. Desert Mountain Care Center will be subject to a long-term, triple-net lease. “We are very excited to add these facilities to our California …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingCaliforniaDevelopmentNews

Griffin Living Opens 102-Unit Varenita of Simi Valley Near Los Angeles

by Jeff Shaw

SIMI VALLEY, Calif. — Griffin Living has opened the doors on Varenita of Simi Valley, an assisted living and memory care community in Simi Valley, approximately 40 miles northwest of Los Angeles. The 97,000-square-foot building, located in the Griffin Plaza shopping center at the corner of Tapo Canyon Road and Cochran Street, includes 75 assisted living units and 27 memory care units. The location of Varenita of Simi Valley represents a pioneering design in senior living development, since residents are within walking distance of amenities like Aldi supermarket, CVS pharmacy …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingCaliforniaNews

IRA Capital Buys 160-Unit Portfolio in Northern California for $106.5M

by Jeff Shaw

DUBLIN and NOVATO, Calif. — Southern California private equity firm IRA Capital has acquired two newly constructed assisted living and memory care facilities totaling 160 units in the Northern California cities of Dublin and Novato for $106.5 million. An active player in the medical office, life sciences and ambulatory surgery space, IRA Capital is growing and diversifying its healthcare real estate portfolio by expanding into seniors housing in high-barrier-to-entry markets on the West Coast. Elegance Senior Living operates the two Class A communities. Elegance at Dublin is an 80-unit community …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsArizonaCaliforniaNewsOperationsWashington

Pennant Group Transfers Operations of Five Communities in the West to Ensign Group

by Jeff Shaw

EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), an Eagle-based REIT, has agreed to transfer the operations of five senior living communities to affiliates of The Ensign Group Inc. The five communities are located in Washington, Arizona and California and are co-located with skilled nursing facilities already operated by affiliates of Ensign. The transaction is anticipated to occur across separate closings in the first half of 2022, subject to receipt of third-party approvals and other customary closing conditions. On the same day, Pennant Group announced that it has entered …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaConnecticutFinanceMarylandNewsSkilled NursingWashington

Berkadia Originates $47M Financing for Five Skilled Nursing Facilities

by Jeff Shaw

CHARLESTON, S.C. — Berkadia Seniors Housing & Healthcare has arranged $47 million in financing for five skilled nursing facilities across the country. Jay Healy secured the financing on behalf of multiple borrowers. In the first loan, Berkadia arranged the HUD refinancing of a 40-bed, Medicare-only skilled nursing facility in Sacramento. The $14.5 million, 48 percent loan-to-value financing retired the construction debt and covered transaction costs for the California-based client. The facility was constructed in June 2018, but did not receive its Medicare certification until August 2019. Occupancy at the time …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts