California

SAN JOSE, Calif. — An affiliate of Walton Street Capital has originated a $59.2 million loan to refinance debt on Watermark at Almaden, a 200-unit seniors housing community in San Jose. The borrower is a partnership between Alliance Residential and Affinius Capital. Delivered in late 2020, the property is currently in lease-up. Units come in studio, one-bedroom, two-bedroom and companion floorplans, and the community features nearly 70,000 square feet of amenity space. The type of care offered was not disclosed.

0 FacebookTwitterLinkedinEmail

ORANGE, Calif. — Sunrise Senior Living has opened Sunrise of Orange in Orange, approximately 30 miles southeast of downtown Los Angeles. HPI Architecture designed the community, which general contractor W.E. O’Neil Construction built. Although the number of units was not disclosed, Sunrise says the property can serve more than 100 residents and will offer assisted living and memory care accommodations. The 75,000-square-foot, three-story property sits on a 1.5-acre site adjacent to Eisenhower Park.

0 FacebookTwitterLinkedinEmail

NEWPORT BEACH, Calif. — Clearwater Living has opened an information center at Clearwater Newport Beach, a 101-unit luxury assisted living and memory care community in Newport Beach, a coastal city south of Los Angeles. Clearwater expects to welcome new residents in early 2024. Clearwater Newport Beach will offer 70 assisted living and 31 memory care apartments in a variety of finishes and floor plans including studio, one- and two-bedroom options. Clearwater Newport Beach will be the company’s eleventh community in California, Nevada and Arizona, with additional developments in the pipeline.

0 FacebookTwitterLinkedinEmail

WOODLAND HILLS, Calif. — Spieker Senior Development Partners has broken ground on Wisteria at Warner Center, a continuing care retirement community (CCRC) in Woodland Hills, approximately 25 miles northwest of Los Angeles. The senior living community will rise six stories on 17 acres and offer 486 units. Residential options range from one-bedroom options to penthouses of close to 3,000 square feet. Wisteria at Warner Center will offer a full continuum of care at the health center located adjacent to the community. Residents will have access to assisted living, memory care …

0 FacebookTwitterLinkedinEmail

CARLSBAD, Calif. — USA Properties Fund and The Pinyon Group plan to begin construction this summer on Vintage at Marja Acres, an affordable apartment community for residents over age 55. The property is part of a larger mixed-use development in Carlsbad, approximately 35 miles north of San Diego. The 47-unit community will offer affordable housing in the new Marja Acres neighborhood that will include 248 townhomes, a community park and restaurant. Marja Acres is near the beach and the popular Carlsbad Village downtown area with restaurants, shops and live entertainment. …

0 FacebookTwitterLinkedinEmail

HAYWARD, Calif. — EAH Housing has broken ground on Mission Paradise, an affordable seniors housing community in the Bay Area city of Hayward. DAHLIN Group designed the property, which J.H. Fitzmaurice Inc. is building. “We are amid a housing crisis that is being exacerbated by inflation and lack of affordable housing across the country, and more specifically in California,” says Assemblymember Liz Ortega. “We have a moment of opportunity in the here and now to take actionable steps that will support organizations like EAH Housing to address the severe housing …

0 FacebookTwitterLinkedinEmail

CALIFORNIA — Capital Funding Group (CFG) has provided $10.9 million in financing, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. The refinancing is for a 99-bed skilled nursing facility in California. Further details were not disclosed. Capital Funding Group’s Tim Eberhardt and Ava Julio originated the transaction for the company.

0 FacebookTwitterLinkedinEmail

SANTA CLARITA, Calif. — Griffin Living has received $3 million in financing from Hankey Capital. The funds support the company’s acquisition of an assisted living and memory care development site in Santa Clarita, approximately 35 miles northwest of Los Angeles. The new community will be located at the corner of Camino Del Arte and Copper Hill Drive, in close proximity to a range of high-end retail and dining options. The approved plans by the city will result in capacity for more than 100 residents. “We are excited to once again …

0 FacebookTwitterLinkedinEmail

PASADENA, Calif. — MorningStar Senior Living has reopened its 144-unit Pasadena community. Soon after assuming management in December 2020, MorningStar, a Denver-based senior living owner and operator, began a complete renovation of the four-story community. “The extensive renovation of MorningStar Senior Living of Pasadena recognizes the desire for retirees to remain in the neighborhoods they love, but with options for contemporary living,” says Ken Jaeger, MorningStar founder/CEO. “This redesign reflects our substantial experience in taking senior living innovation to the next level while continuing to meet the pressing need for …

0 FacebookTwitterLinkedinEmail