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8/19/24
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Atria Newport Beach, a 168-unit senior living community located in Newport Beach, was refinanced with a new loan for $52 mil. The property is owned by a partnership between a national REIT and Atria Senior Living.
Atria Newport Beach is located at 393 Hospital Rd, in a prime location with high visibility off of Newport Blvd and in close proximity to Hoag Hospital. The Newport Beach area is one of the most affluent communities in Southern California and provides the property with exceptional surrounding demographics.
The Class A property was built in two phases with the North Building fully renovated in 2023, while the South Building was purpose-built and opened in 2021. The three-story buildings are home to independent living, assisted living, and memory care units offered in studio, one- and two-bedroom layouts. Community amenities include 24-hour support staff, all-day dining, valet and concierge services, fitness classes, car service, housekeeping, salon and spa, yoga studio, theatre, library, game room and an underground parking garage.
JLL arranged the new financing. MidCap Financial provided the floating-rate, first mortgage loan.
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