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 …
SAN CLEMENTE, Calif. — Senior Living Investment Brokerage (SLIB) has arranged the sale of San Clemente Villas by the Sea, a 140-unit assisted living and memory care community in the Orange County city of San Clemente. The facility was built in 2002 and totals 131,765 square feet on approximately 3.3 acres of land. The seller’s family developed and managed the property, but now plan to exit the seniors housing space. The buyer was private equity group based in Southern California, which selected an experienced West Coast operator. The price was …
SACRAMENTO, FAIR OAKS and CARMICHAEL, Calif. — Ziegler has acted as exclusive financial advisor to Eskaton Properties Inc. on the sale of a skilled nursing portfolio in the greater Sacramento area. The 391-bed portfolio consists of Eskaton Care Center Fair Oaks, Eskaton Care Center Greenhaven and Eskaton Care Center Manzanita. The communities are in proximity to each other. Fair Oaks was built in 1983 and has 148 beds on a three-acre lot in Fair Oaks. Greenhaven was built in 1978 and has 148 beds on a 4.92-acre lot in Sacramento. …
LAKE FOREST, Calif. — Community HousingWorks (CHW) has opened Portola Senior Apartments, an affordable housing community in Lake Forest. CHW’s first community in Orange County, Portola Senior Apartments is built as a standalone, four-story building with ground-floor retail space. The building features 58 one-bedroom apartments (including one designated for an on-site property manager) for singles or couples age 62 years and older who earn 50 percent of the area median income (AMI) or less, which is approximately $50,000 per year. Over 750 people applied to live in Portola within three …
CALIFORNIA — Capital Funding Group (CFG) has provided a $30.3 million loan for the acquisition of three skilled nursing facilities. The facilities, which are located in California, support 396 beds. The buyer was identified only as “a nationally recognized borrower.” The transaction marks one of the first acquisitions since the inception of a new approval process with the California Attorney General. Under the new state law, any transaction involving the sale or transfer of control of a nonprofit healthcare facility is required to secure the approval of the attorney general. …
