SAN
DIEGO, CA – has arranged
a $35 million construction-takeout refinancing for Ocean Hills Senior
Living, a 216-unit, Class A seniors housing campus in Oceanside, California.
Olga Walsh
Working on behalf of Protea Capital Partners, JLL
placed the five-year, fixed-rate loan with a regional bank.
Located at 4500 Cannon
Rd, Ocean Hills Senior Living sits on a hilltop just 3.5 miles from the Pacific
Ocean, at the north end of San Diego County. The property's strategic location
provides exceptional surrounding demographics and easy access across the region
via major freeways, including SR-78 and I-5.
Ocean Hills Senior Living
is a resort-style complex offering a mix of independent living, assisted living
and memory care units in studio, one- and two-bedroom layouts.
 |
| Greg Spiro |
"Despite strong
lender interest in the opportunity given its prime location, quality of the
community and reputable sponsorship, most offers fell short of the ask,"
said Walsh. "The regional bank solution provided advantageous loan terms,
including higher proceeds and aggressive pricing.”
“It was a real pleasure
working with the JLL team. Despite having to navigate incredibly challenging
circumstances, they never gave up and continued to maintain a level of
professionalism that was exceptional,” said Greg Spiro of Protea Capital
Partners.
 |
| Jack Wood |
The JLL Capital
Markets Debt Advisory team was led by Director Olga Walsh and Analyst Jack Wood, alongside the JLL Seniors Housing team.
For more news, videos and research resources, please visit
JLL’s newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
CONTACT:
Kristen Murphy
Director, Public Relations
JLL
One Post Office Square, Suite 1100
Boston, MA 02109
617-543-4873
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