Cushman & Wakefield Arranges $23.8M Construction Financing for Community in Bay Area

VALLEJO, Calif. — Cushman & Wakefield Senior Housing Capital Markets has arranged a $23.8 million construction loan for The Lodge at Glen Cove, a 142-unit assisted living and memory care community in Vallejo, on the waterfront of the San Francisco Bay overlooking Carquinez Strait.

The borrower is a joint venture between Blue Mountain Enterprises Inc. and Calson Management, a regional operator that will manage the community upon completion. PNC provided the funds.

The Lodge at Glen Cove is the fourth ground-up development between Calson Management and Blue Mountain, a commercial and residential real estate development and construction firm.

The Cushman & Wakefield team involved in the transaction included Aaron Rosenzweig, Jay Wagner and Sam Dylag.