JLL Arranges $21.5M in Financing for Bay Area Memory Care Portfolio
SUNNYVALE AND MENLO PARK, CALIF. — JLL Capital Markets has arranged a $21.5 million loan for two memory care 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.
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.
Silver Oaks 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.
Bercut Smith, Lauren Sackler and Ace Sudah led the JLL Capital Markets debt advisory team representing the borrower.