Calson Management Secures $21 Million Loan on Senior Housing in the South Bay
Developer Calson Management has a new $21.5 million recapitalization loan for two memory care senior housing residences in the South Bay. Totaling 48 units in California’s Bay Area, the portfolio includes Crescent Oaks in Sunnyvale and Silver Oaks in Menlo Park, both fully stabilized.
Crescent Oaks, located at 147 Crescent Ave., features one- and two-bedroom units and has a total of 33 beds as well as a hair salon.
Silver Oaks, located at 16 Coleman Place, offers 26 one- and two-bedroom units and a total of 43 beds. The community offers an on-site chef, hair salon, planned community activities, scheduled transportation and an activities room.
The JLL Capital Markets Debt Advisory team, led by senior director Bercut Smith and analysts Lauren Sackler and Ace Sudah, represented Calson Management. JLL secured an 18-month fixed rate loan on behalf of Calson Management through Thorofare Capital.