SANTA CLARITA, Calif. — Griffin Living has received $3 million in financing from Hankey Capital. The funds support the company’s acquisition of an assisted living and memory care development site in Santa Clarita, approximately 35 miles northwest of Los Angeles.
The new community will be located at the corner of Camino Del Arte and Copper Hill Drive, in close proximity to a range of high-end retail and dining options. The approved plans by the city will result in capacity for more than 100 residents.
“We are excited to once again partner with Hankey Capital to finance the acquisition of this land in a high-barrier-to-entry market with strong demographics in the category,” says Paul Griffin, CEO of Griffin Living. “The loan closing highlights that even in today’s market, projects with demonstrated demand, experienced developers and strong operating partners can still access capital.”
Griffin plans to begin construction this year and open the community in 2024.