CAMARILLO, Calif. — Oakmont Senior Living has opened Oakmont of Camarillo, an assisted living and memory care community in the Ventura County city of Camarillo. The 86,839-square-foot property offers 91 units on a three-acre plot. The community is Oakmont’s first in the county. Ted Burgess serves as executive director of the property.
California
HEALDSBURG, Calif. — Ziegler has closed a $12.4 million, tax-exempt bond anticipation note for the development of Enso Village, a continuing care retirement community in Healdsburg, a city in Sonoma County’s wine country. A bond anticipation note is a short-term security issued in anticipation of future, larger bond financing for the project. The borrower is Kendal at Sonoma, a nonprofit partnership between The Kendal Corporation, Greenbrier Development and the San Francisco Zen Center. The community will feature 200 market-rate independent living apartments, 20 below-market independent living apartments to accommodate retired …
LOS ANGELES — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 50-bed skilled nursing facility in the Los Angeles metropolitan area. A private real estate investor sold the community to an investor with a large California portfolio for $4 million, or $80,000 per bed. The specific name and location of the property were not released. The seller made $1.7 million in capital improvements to the property over the last three years, including adding 27 beds. Christopher Hyldahl, Gideon Orion and Kendra Gonzalez of Blueprint handled the transaction.
NATIONAL CITY, Calif. — NorthMarq has arranged the sale of Southern Highlands Independent Senior Living, a 151-unit independent living property in National City, just south of San Diego. Lincoln Avenue Capital acquired the community from Shefflin Investments for $22.1 million. The three-story building was constructed in 1999 on 1.03 acres. The units are a mix of studios and one-bedroom apartments. NorthMarq’s Southern California investment sales team of Kyle Pinkalla and Shane Shafer arranged the sale.
ROCKLIN, Calif. — Greystone has provided a $37 million Fannie Mae structured adjustable rate mortgage loan for the acquisition of a 134-unit seniors housing property in Rocklin, a suburb of Sacramento. The Pines at Rocklin offers independent living, assisted living and memory care services. Merrill Gardens Senior Living is the operator and a joint venture partner in the community, which was built in 2015. The borrower was Harbert Seniors Housing Fund II. Greystone’s seniors housing finance team originated the 10-year loan with an adjustable rate and five years of interest-only …
Alliant Capital Invests in Blue Mountain Terrace Affordable Development Near Sacramento
by Jeff Shaw
WINTERS, Calif. — Alliant Capital has completed an investment in Blue Mountain Terrace, a 63-unit affordable seniors housing development in Winters, a rural city approximately 25 miles west of Sacramento. Domus is developing the community, which will serve those age 62 and older earning between 25 and 60 percent of the area median income. The size of Alliant’s investment was not disclosed. “California’s demand for affordable housing is high statewide,” says Dudley Benoit, executive vice president at Alliant Capital. “In particular, the need for quality housing for low-income seniors is …
ESCONDIDO, Calif. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Las Villas Del Norte, a 185-unit assisted living and memory care community in Escondido. A publicly traded REIT sold the property for an undisclosed price. The buyer was a locally based and privately held real estate investment firm with experience repurposing senior care properties. Constructed in 1986 with an expansion completed in 2006, Las Villas Del Norte is situated in an affluent submarket north of San Diego. The community had initially offered a wider spectrum of senior …
Oakmont Senior Living Names Melon Rivera as Executive Director for Oakmont of Novato Near San Francisco
by Jeff Shaw
NOVATO, Calif. — Oakmont Senior Living has named Melon Rivera executive director of Oakmont of Novato, a senior living community in Novato, located north of San Francisco. The community is under construction, with a scheduled opening in spring 2020. Rivera has worked in the senior living industry for about a decade. Before joining Oakmont Senior Living, he was executive director at Atria Tamalpais Creek. He also spent about five years with Brookdale in various roles. Rivera attended Santa Rosa Junior College and is also a licensed pharmacy technician.
Blueprint Brokers Sale of $7.3M Sale of Assisted Living Community in San Diego’s Mission Hill
by Jeff Shaw
SAN DIEGO — Blueprint has arranged the sale of the Cloisters of the Valley, an assisted living community in the hills of Mission Valley, an affluent northern submarket of San Diego. The seller was an owner-operator seeking to retire. Bayshire Senior Living, a growing regional owner-operator with three other communities in the greater San Diego area, acquired the property. The property consists of 70 beds in 35 units. The purchase price was $7.3 million, or just over $207,000 per unit. The Blueprint team consisted of Jacob Gehl, Humair Sabir and …
NOVATO, Calif. — Oakmont Senior Living has opened an information center at Oakmont of Novato, a seniors housing community currently under construction in Novato, approximately 30 miles north of San Francisco. The community will total 72,614 square feet on a three-acre plot, and feature 49 units of assisted living and 36 units of memory care. Construction is slated for completion in spring 2020. Melon Rivera will be executive director of the new community.