FALLBROOK, Calif. — Contour, a real estate investment and development company, has acquired Estancia Senior Living in Fallbrook, a suburb of San Diego. The price was $35 million.
Located on a 3.4-acre lot, the two-story property features 79 assisted living units and 25 memory care units. The 88,892-square-foot community opened in summer 2021.
The sale also included approximately five acres of additional vacant land, located directly adjacent to the property.
Meridian Senior Living will continue to operate the asset following the sale.
Alanna Ellis and Jeff Sause of JLL Capital Markets secured a $24 million, three-year, floating-rate bank loan and a $7.6 million, four-year, fixed-rate mezzanine loan for Contour.