HUNTINGTON BEACH, Calif. — An undisclosed developer has received $252.1 million in bond financing for the construction of a new seniors housing community in Huntington Beach in Southern California.
HJ Sims and JLL Securities arranged the financing as lead book-running manager and co-manager, respectively. Bonds included Series A senior bonds and subordinate Series B and C bonds, issued through the California Public Finance Authority. The bonds were divided into three tranches, including a $165.7 million Series A tranche, a $74.3 million Series B tranche and a $12.1 million Series C tranche.
Upon completion, the development will total 214 units across a three-story building. Dubbed The Marisol, the community is scheduled for delivery in 2028.