RANCHO BERNARDO, Calif. — Ryan Cos. has completed construction of Silvergate Rancho Bernardo, an 11-acre seniors housing campus in Rancho Bernardo, approximately 25 miles north of San Diego. AmeriCare Health & Retirement developed the community, which Ryan Cos. built. The development features of 20 cottages, 108 apartments, six penthouse units and 48 memory care units, and was 90 percent pre-leased. The apartments range from 400 square feet to 1,200 square feet, while the cottages run between 1,400 square feet and 1,600 square feet. Silvergate Rancho Bernardo is AmeriCare’s third development …
California
MedCore Partners Purchases 582-Unit Seniors Housing Portfolio in Washington, California
by Jeff Shaw
WASHINGTON and CALIFORNIA — MedCore Partners and The National Realty Group, together with BMO Harris Bank and Locust Point Capital, have acquired a 582-unit independent living, assisted living and memory care portfolio in seven markets in Washington and California. The communities in the initial acquisition include five assets in Washington: Birchview Memory Care in Sedro-Wooley with 60 units Discovery Memory Care in Sequim with 55 units The Sequoia in Olympia with 92 units Cooks Hill Manor in Centralia with 72 units The Village in Tacoma with 136 units The transaction also …
CUPERTINO, Calif. — The City of Cupertino Planning Commission has approved the development of Westport Cupertino, a seniors housing and multifamily community in Cupertino. KT Urban is developing the property. The mixed-use project has now cleared all required approvals except the City Council, which plans to review the proposal in the next month. Located at 21267 Stevens Creek Blvd., Westport Cupertino will feature 206 senior living apartments, including 48 affordable units and 27 memory-care units, and 88 single-family units in a mix of row home and townhome styles. In addition, …
LA JOLLA, Calif. — Belmont Village Senior Living and Greystar have broken ground on Belmont Village Senior Living of La Jolla. The development is Belmont Village’s 32nd community and its third in San Diego County. The project is Belmont’s first in partnership with another developer. “A mutual colleague brought us together — Greystar had sourced a terrific location with an entitlement history that made it a perfect opportunity for licensed seniors housing,” says Patricia Will, Belmont Village founder and CEO. “We saw the potential of the site, and of bringing …
ORANGE, Calif. — MBK Senior Living has acquired Kirkwood Orange, seniors housing community in Orange, approximately 30 miles southeast of downtown Los Angeles. Kirkwood Orange comprises 48 assisted living and memory care units. Originally built in 1999, the community underwent $1.1 million in capital improvements in 2019, including renovations to all common areas. The seller was a joint venture between Cadence Living and an institutional equity partner. This acquisition expands MBK’s portfolio to 33 owned and managed communities located throughout the Western United States. The purchase price was not disclosed. …
LOS ANGELES — Panorama Senior Housing has released plans for an assisted living and memory care community on Holt Avenue, 200 feet south of Los Angeles’ Beverly Hills neighborhood. KTGY Architecture + Planning designed the 61,000-square-foot project. Construction is slated to start in early 2021, with delivery planned for late 2022. The community will have a total of 80 resident rooms, 62 for assisted living and 18 for memory care. The memory care units will be on the second floor of the five-story building, with a dedicated common area, dining …
LOS ANGELES — Cadence Living has been appointed manager at Nikkei Senior Gardens, a 78-unit independent living, assisted living and memory community in the Arleta neighborhood of Los Angeles. The property is affiliated with the San Fernando Valley Japanese American Community Center. Although the community is open to everyone, it was designed to appeal specifically to Japanese-American seniors. Staff members are multilingual and programming includes cultural activities. “Nikkei Senior Gardens is a great testament to the Japanese-American culture with beautiful Japanese gardens on site and culinary menus that cater to …
LOS ANGELES — Panorama Senior Housing has unveiled plans for Eagle Rock Assisted Living and Memory Care Center in the Eagle Rock neighborhood of Los Angeles. KTGY Architecture + Planning is the architect of the new community. Groundbreaking is scheduled for early 2021, with completion in late 2022. The property will feature 87 assisted living units and 22 memory care units in a five-story building and a four-story building with a rooftop deck. A ground-level courtyard and subterranean parking structure connect the two buildings. “This site was quite challenging because …
PLEASANT HILL and DAVIS, Calif. — CBRE has provided refinancing loans for three Carlton Senior Living properties totaling $58 million. The portfolio includes Carlton Senior Living Poet’s Corner and Carlton Senior Living Pleasant Hill – Martinez, both located northeast of the Bay Area in Pleasant Hill, as well as Carlton Senior Living Davis in the Sacramento suburb of Davis. The properties feature a combined 251 assisted living units and 64 memory care units and average 93 percent occupancy. Andrew Behrens, Aron Will, Austin Sacco, and Adam Mincberg arranged the Freddie …
Lancaster Pollard Funds $25M HUD Construction Loan for Transitional Care & Skilled Nursing of Oceanside
by Jeff Shaw
OCEANSIDE, Calif. — Lancaster Pollard Mortgage Co., a division of ORIX Real Estate Capital, has provided a $25 million FHA construction loan for Transitional Care & Skilled Nursing of Oceanside. The 120-bed skilled nursing facility will be located in Oceanside, approximately 40 miles north of San Diego. RangeComm Development, in partnership with Providence Group, is developing the property, which will focus on short-stay rehabilitation. The non-recourse loan features a fixed interest rate and 40-year term. Brett Murphy led the transaction for Lancaster Pollard.