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Assisted LivingCaliforniaFinanceNews

Bayview Arranges $13M C-PACE Financing for Varenita of Simi Valley in California

by Jeff Shaw

SIMI VALLEY, Calif. — Bayview PACE has arranged $13 million in Commercial Property Assessed Clean Energy (C-PACE) financing for the Varenita of Simi Valley seniors housing community in the Ventura County city of Simi Valley. The Class A property which opened in February 2022, totaling 97,000 square feet of space with 102 units of assisted living and memory care. Its location in the heart of Griffin Plaza, an active shopping center, provides opportunities for residents to explore and socialize in nearby retail shops and restaurants. The C-PACE loan is being …

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AcquisitionsAssisted LivingCaliforniaNews

Blueprint Brokers Sale of 70-Unit GranVida Senior Living in Carpinteria, California

by Jeff Shaw

CARPINTERIA, Calif. — Blueprint Healthcare Real Estate Advisors has brokered the sale of GranVida Senior Living, a 70-unit assisted living and memory care community in the Central Coast city of Carpinteria. The community is situated in a high barrier-to-entry suburb between Santa Barbara and Ventura. The asset benefits from being the only seniors housing community within 10 miles. An institutional ownership group sold the asset to Blake Parsons, owner of RBP Communities, for an undisclosed price.

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CaliforniaDevelopmentNews

Harbert South Bay Partners Plans 350-Unit The James Community in Irvine, California

by Jeff Shaw

IRVINE, Calif. — Harbert South Bay Partners has released plans for The James, a 350-unit, eight-story seniors housing community in the Orange County city of Irvine. The site is walkable to Irvine-Tustin’s vibrant shopping area, The District at Tustin Legacy. The leasing office for The James is scheduled to open early 2024, with occupancy planned for summer 2025. The James will feature 210 independent living, 110 assisted living and 30 memory care units. Momentum Senior Living, which is based in Orange County, will be the operator.

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CaliforniaCCRCDevelopmentFinanceNews

Ziegler Arranges $29M Financing for Ensō Verde Development in Simi Valley, California

by Jeff Shaw

SIMI VALLEY, Calif. — Ziegler has arranged $29 million in bond financing for Ensō Verde, a seniors housing currently under development in Simi Valley. The borrower is Kendal Corp., which began developing the continuing care retirement community in 2022. Locate don 21 acres, plans call for 237 independent living units, 24 assisted living units, 24 memory care units and related amenities and common areas. The California Public Finance Authority issued the unrated bonds, which are a mix of tax-exempt and taxable. The bonds will be used to purchase the development …

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CaliforniaFinanceIndependent LivingNews

CBRE Arranges $38.4M Refinancing for The Plaza at Lantern Crest in Santee, California

by Jeff Shaw

SANTEE, Calif. — CBRE has arranged a $38.4 million refinancing for The Plaza at Lantern Crest, a 113-unit independent living community in Santee, a northeastern suburb of San Diego. The borrower is The Grant Cos. Aron Will, Bill Chiles, Matt Kuronen and Michael Cregan of CBRE National Senior Housing, arranged the financing. Built in 2021, the four-story community is situated on 3.8 acres within a larger 34-acre campus that provides a full continuum of care to its residents. The collection of Lantern Crest communities represents one of the highest quality …

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AcquisitionsAssisted LivingCaliforniaFinanceNews

BWE Arranges Financing for Harrison Street Acquisition of Three-Property Oakmont Portfolio in California

by Jeff Shaw

AGOURA HILLS, LODI and SAN JOSE, Calif. — Bellwether Enterprise Real Estate Capital LLC (BWE), has arranged the financing for Harrison Street’s acquisition of three Class A seniors housing communities in California. Oakmont Management Group operates all three communities: Oakmont of Agoura Hills in Agoura Hills, Oakmont of Lodi in Lodi and Oakmont of Silver Creek in San Jose. The luxury properties offer assisted living and memory care services. Ryan Stoll, BWE’s national director of seniors housing and care, and Taylor Mokris, senior vice president for seniors housing and care, …

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Affordable HousingCaliforniaDevelopmentFinanceNews

Alameda Housing Authority Receives $20.6M for North Housing Affordable Community in California

by Jeff Shaw

ALAMEDA, Calif. — The Alameda Housing Authority (AHA) has received $20.6 million from the State of California Department of Housing and Community Development. The funds will support development of North Housing Senior Apartments, an affordable housing community in the island city, located just south of Oakland in San Francisco Bay. North Housing is the first phase of a long-planned community development project. Plans call for 40 studio apartments, 23 one-bedroom units and a two-bedroom residence for the onsite manager. The land, which AHA originally owned in the 1940s, was granted …

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Assisted LivingCaliforniaDevelopmentNews

Clearwater Living Opens 117-Unit Community in Glendora, California

by Jeff Shaw

GLENDORA, Calif. — Clearwater Living has opened Clearwater at Glendora, a 117-unit assisted living and memory care community in Glendora. The property is a two-story, 117,000-square-foot property offering 88 assisted living and 29 memory support apartments with studio, companion, one- and two-bedroom layouts. It is the only assisted living and memory care community in Glendora, according to the developer. Clearwater at Glendora is the company’s 10th seniors housing community in California, Arizona and Nevada, with plans for additional developments in the pipeline.

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CaliforniaDevelopmentNews

Belmont Village Senior Living Breaks Ground on 177-Unit Project in San Ramon, California

by Jeff Shaw

SAN RAMON, Calif. — Belmont Village Senior Living, in partnership with Sunset Development, has broken ground on Belmont Village San Ramon. Located within the Bishop Ranch neighborhood of San Ramon, the 175,320-square-foot community will feature a heated saltwater pool, putting green, farm-to-table gardening areas, al fresco dining, outdoor yoga lawn and group fitness space, and a dog park. Slated for completion by fall 2024, Belmont Village San Ramon will feature 177 studio, one- and two-bedroom residences for independent living, assisted living and memory care needs. Aron Will, Tim Root and …

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