Truist Provides $42.4M in Financing for Hillcrest CCRC Expansion in La Verne, California

by Jeff Shaw

LA VERNE, Calif. — Truist Financial Corporation has provided $42.4 million in financing for Hillcrest, a continuing care retirement community (CCRC) in La Verne, approximately 30 miles east of Los Angeles.

The funding will be used to refinance existing debt and support the construction of a new independent living area, named Hawthorne Homes.

The 24,000 square-foot development will consist of 14 one-floor cottage and duplex units located on a 1.4-acre parcel on Hillcrest’s 50-acre campus. The new construction includes several environmentally friendly and sustainable features, including solar energy, rainwater reclamation, clerestory windows and energy-efficient appliances.

Construction is scheduled to begin before the end of September for completion in summer 2021.

Upon completion of the new units, the Hillcrest campus will consist of 240 independent living units, 48 assisted living units, 24 memory care beds and 59 licensed skilled nursing beds.

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