Senior Housing – Temecula CA

$12.5MM • Southern, CA

Transaction Highlights

  • Total financing of $12.5MM
  • PACE LTV: 18.4%
  • CLTV: 66.9%
  • 30.4 Years 
  • Capitalized Interest Period of 2.5 years
c-pace:

$12.5MM

LOCATION:

CA

type:

New Construction

Building:

Senior Housing

TERM:

30 Years 

Status:

Closed

Project Description

The borrower was seeking financing for the development of a 107-unit/113, 77,200 sq ft GBA garden-style senior living campus. The property is 100% private pay and consists of 82 Assisted Living units and 24 memory care units in a separate wing.

Bayview provided $12.5MM in C-PACE financing for the construction project. The borrower planned on refinancing the property with a long-term high leverage HUD loan, and C-PACE allowed the sponsor the flexibility to finance the project at 90% combined loan to cost.