SAN FRANCISCO, April 7, 2022 – JLL Capital Markets announced today that it has arranged a $21.5 million loan for two memory care seniors housing communities totaling 48 units in California’s Bay Area. The portfolio includes Crescent Oaks in Sunnyvale and Silver Oaks in Menlo Park.
JLL worked on behalf of the borrower, Calson Management, to secure an 18-month fixed rate loan through Thorofare Capital.
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 Pl., 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.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Bercut Smith and Analysts Lauren Sackler and Ace Sudah.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.