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4/11/22
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Calson Management has secured a $21.5 mil loan for two memory care seniors housing communities totaling 48 units in California’s Bay Area. The portfolio consists of Crescent Oaks in Sunnyvale and Silver Oaks in Menlo Park.
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 Place, 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.
Bercut Smith, Lauren Sackler and Ace Sudah with JLL Capital Markets arranged the 18-month fixed-rate loan through Thorofare Capital.
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