California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

California  + San Diego  + Senior Housing  | 
Estancia Senior Living

Estancia Fills Void for Suburban Senior Living Product

Regional development of senior housing product has lagged with only two new projects delivered in the last 17 years. However, seniors continue to reside in suburban neighborhoods due to the relative value comparison and desire to remain in familiar neighborhoods.

Enter Estancia Senior Living, a 103-unit 114-bed class-A assisted living and memory care community in Fallbrook near San Diego. Estancia Senior Living debuted in summer 2021 and was recently acquired. Acquisition and mezzanine financing to the tune of $31.6 million was arranged for the property.

The 104-unit two-story facility is 88,892 square feet and features a mix of 79 assisted living accommodations and 25 memory care rooms on a 3.4-acre site. The sale also included 5 acres of additional vacant land located adjacent to the property.

Located at 1735 South Mission Rd., the project will draw residents from the 75-plus age population of 545,668, with projected growth of 3.99 percent and an underlying affluent demographic.

The JLL team representing the borrower, Contour, included Alanna Ellis and Jeff Sause. JLL secured the $24 million three-year floating-rate bank loan along with a $7.6 million four-year fixed-rate mezzanine loan.

Estancia Senior Living is operated by Meridian Senior Living, which has been involved with the project’s planning and design from the outset.

Connect

Inside The Story

Alanna Ellis

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Sale/Acquisition
  • ◦Financing
New call-to-action
New call-to-action
New call-to-action
RockefellerGroup-12-cube