$16.275 million in financing secured by JLL Capital Maarkets for Bay Area seniors housing development sites

 

Lillian Roos 

SAN FRANCISCO, CA – JLL Capital Markets has arranged $16.275 million in acquisition financing for two land sites totaling 12.73 acres for the development of seniors housing communities in Livermore and Soquel, California.

JLL worked on behalf of the borrower, Calson Management, to secure the $10.5 million and $5.775 million one-year, fixed-rate loans through Barnett Capital Limited.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Bercut Smith, Director Lillian Roos and Analysts Lauren Sackler and Ace Sudah.

Lauren Sackler

 The first site is located at 1202 Concannon and totals nine acres. The site will be developed into a 128-unit seniors housing community offering assisted living and memory care.

On-site community amenities will include designated dining rooms, a hobby room, spa/salon, movie theater, laundry facilities, a fitness center, wellness center and walking paths with open outdoor spaces.

The property is near local retail, entertainment and dining hubs and is a 10-minute drive from Stanford Health Care – Valley Care Memorial Center and Livermore Division – VA Palo Alto Health Care System.

Additionally, the proximity to CA-84 provides access to San Francisco, Silicon Valley and the Central Valley in under an hour drive.

Ace Sudah

Situated on 3.73 acres at 5630 Soquel Dr., the second land site will be developed into an 82-unit senior housing community near Santa Cruz. 

The site is a fully entitled assisted living and memory care development that Calson Management took through the entitlement process while the site was under contract.

Livermore seniors housing development site, Livermore, CA

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 Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

  CONTACT:

Cierra Lacasse,

JLL Associate, Public Relations

Phone: +1 602 648 8701

Email:  Cierra Lacasse@am.jll.com