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5/19/26
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Development Management Associates has obtained $252.1 mil in tax-exempt and taxable bond financing for the development of The Marisol, a 214-unit seniors housing community currently under construction in Huntington Beach.
The three-story project is located at 2120 Main St, roughly 1.2 miles from the beach and immediately adjacent to a shopping center with grocery, retail and dining establishments. The property is convenient to the Pacific Coast Highway, the 405 Fwy and the John Wayne International Airport. It also is about 35 miles southeast of Los Angeles.
HJ Sims acted as lead book-running manager on the senior bonds and JLL Securities served as co-manager and led the process in securing the investor for the subordinate bonds. The fixed- and floating-rate financing was structured into Series A senior bonds and subordinate Series B and C bonds, and was issued through the California Public Finance Authority. The bonds were divided into three tranches: a Series A $165.7 mil tranche, a Series B $74.3 mil tranche and a Series C $12.1 mil tranche.
The Marisol is planned for completion in 2028.
As noted in JLL’s Senior Housing and Care Investor Survey and Trends Outlook, the slowdown in new seniors housing construction has created a supply-demand imbalance that is driving strong performance for existing and new properties in the sector.
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