Bay Area seniors housing portfolio secured $21.5M in financing
JLL Capital Markets arranged the loan for the 2-property memory care portfolio
SAN FRANCISCO, April 7, 2022 – JLL Capital Markets announced today that it has arranged a $21.5 million loan for two memory care seniors housing communities totaling 48 units in California’s Bay Area. The portfolio includes Crescent Oaks in Sunnyvale and Silver Oaks in Menlo Park.
JLL worked on behalf of the borrower, Calson Management, to secure an 18-month fixed rate loan through Thorofare Capital.
Located at 147 Crescent Ave., Crescent Oaks offers 22 one- and two-bed units with a total of 33 beds. The community is located near a variety of retail, dining and entertainment amenities. In addition, the property is located one mile from Valley Health Center and less than a mile from Highway 82. The community offers laundry and daily housekeeping services, daily planned activities and a salon.
Silver Oaks, situated at 16 Coleman Pl., offers 26 one- and two-bed units, totaling 43 beds. The property is directly across from the Menlo Park VA Medical Center and is less than a mile from Highway 101, providing convenient access to San Francisco and the greater Bay Area. The community amenities include an onsite chef, housekeeping and laundry, planned community activities, scheduled transportation services, a salon, activities room and more.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Bercut Smith and Analysts Lauren Sackler and Ace Sudah.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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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.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Calson Management
The Reyes family (partners and managers) have been involved in Senior Living for more than 50 years. The second generation is now creating unique, specialized communities for seniors throughout California. Their family and their team members work to provide safe, engaging and comfortable communities.