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COSTA MESA, Calif. — CBRE National Senior Housing has arranged $15.5 million in financing for Coastal Heights Senior Living, a 148-unit independent living community located in the Orange County city of Costa Mesa.
The borrower was a joint venture between Capitol Seniors Housing and an institutional equity partner, which has owned the property since 2016. It was built in 1990 and has undergone $7 million in renovations since the acquisition. The operator is Integral Senior Living.
Aron Will, Austin Sacco and Adam Mincberg arranged the three-year, floating-rate loan with full-term, interest-only payments through Stone Beach Capital, a New York-based investment fund.