Calson Management and RSF Partners launch joint venture for seniors housing project in San Jose, CA

 

 Lillian Roos

SAN FRANCISCO, CA – JLL Capital Markets has arranged $31.3 million in construction financing and a joint venture equity partnership for the development of Bascom Senior Living, an 83-unit, 93-bed private pay assisted living and memory care community in San Jose, California.

 JLL worked on behalf of the borrower, Calson Management, to arrange an equity partnership with RSF Partners.

Alanna Ellis

In conjunction with the closing of the joint venture equity arrangement for Bascom Senior Living, JLL secured a four-year, floating-rate $31.5 million construction loan with a bank.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Bercut Smith and Directors Alanna Ellis and Lillian Roos.

Bercut Smith

“We greatly appreciate Jason Reyes and the Calson Management team entrusting us to capitalize their development pipeline,” said Smith.

“The interest we had in the opportunity was a testament to the excellent job Calson Management has done building a Bay Area senior housing portfolio over the past 10 years and a well-positioned development pipeline, which we were able to showcase during our marketing processes.”

Jason Reyes 

“We at Calson are beyond excited to partner with RSF and officially break ground on our first project together in what will be a long and harmonious relationship,” Jason Reyes of Calson Management.

“This capital support will help us grow exponentially quicker and more efficiently as we expand our ownership and operating portfolio across California.”

Bascom Senior Living, San Diego, CA

Once completed, the community will offer studio, one- and two-bedroom units featuring a 24-hour emergency response system, private baths with seated showers, closet space and individual air controls.

Future residents will enjoy a variety of on-site community amenities, including designated dining rooms, a hobby room, a spa/salon, a movie theater, laundry facilities, a fitness center, a wine club, a wellness center and patios/balconies.

For more news, videos and research resources on JLL, please visit our newsroom.

 CONTACT

Cierra Lacasse

PR, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com