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ROLLING HILLS ESTATES, Calif. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged $23 million in construction financing for Peninsula Pointe, a to-be-built, 87-unit, assisted living and memory care community in Rolling Hills Estates on the Palo Verdes Peninsula.
The borrower is a joint venture between Singerman Real Estate and Darnell Capital.
The project includes the redevelopment of an existing, vacant office building into a luxury, three-story, 65,000-square-foot seniors housing community to be operated by Cadence Living.
A large regional bank provided the financing.