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8/13/21
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Singerman Real Estate and Darnell Capital have obtained $23 mil in construction financing for, a to-be-built, 87-unit, assisted living and memory care community. The project is located in Rolling Hills Estates, on the Palo Verdes Peninsula, one of the most affluent suburban enclaves in Southern California.
The project includes the full redevelopment of an existing, vacant office building. Once complete, the property will consist of a luxury, three-story, 65k sf senior housing community. The community will be operated by Cadence Living, a premier regional operator headquartered in Phoenix, Arizona.
Richard Swartz, Jay Wagner, Aaron Rosenzweig, Tim Hosmer and Bailey Nygard with Cushman & Wakefield’s Senior Housing Capital Markets team arranged the financing, which was provided by a large regional bank with favorable terms.
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