Jones Lang LaSalle Inc. Capital Markets sourced and organized $43.2 million in financial institution bridge financing for Varenita of Westlake, an 86-unit assisted-living and memory-care neighborhood situated in Westlake Village.
JLL represented the borrower, Westlake Senior Residing Heart LLC, to safe the five-year mortgage from a West Coast regional financial institution.
The financing was wanted to switch an current development mortgage and an fairness companion, whose time period on the particular funding was closing.
“Varenita of Westlake is an distinctive neighborhood, a real treasure to the seniors of Westlake and Thousand Oaks,” Alanna Ellis, a director of JLL Capital Markets who led the association together with affiliate Ace Sudah, stated. “We had been extremely impressed on the consideration to design element.”
Positioned at 95 Duesenberg Dr., Varenita of Westlake is a category A luxurious senior-living neighborhood, which consists of 58 assisted dwelling models and 28 memory-care models.
The complicated options a mixture of predominantly one-bedroom models, with some further studios and two-bedroom models as nicely.
The boutique-style neighborhood sports activities a myriad of on-site facilities to maintain seniors energetic, together with a number of designated eating rooms; a bistro; an artwork room; a spa and salon; a movie show; a laundry facility; a health middle with bodily and occupational remedy; and a wellness middle and a number of outside patios and strolling paths.
“Varenita of Westlake can be an impressive profit to the residents for a few years to return and we had been proud to have been a small a part of the neighborhood’s success,” Ellis stated.
Originally posted 2023-10-09 07:01:22.