Steadfast to Build $95.5M Seniors Housing Community near Los Angeles
LAGUNA NIGUEL, CALIF. — In a joint venture with Fremont Realty Capital, Steadfast Cos. is developing Crestavilla, a luxury 201-unit independent living, assisted living and memory care community in the Los Angeles suburb of Laguna Niguel.
The three-story, Spanish Colonial-style building will house 61 independent living units, 115 assisted living units and 25 memory care units. The building is situated on 11.5 acres.
Holliday Fenoglio Fowler L.P. (HFF) arranged $27.9 million of joint equity venture capital and a $67.7 million construction loan through a local bank for the project.
James Fowler, Ryan Maconachy an Chad Lavender led the HFF team in the financing.