Nexus Obtains $276M for Orange County Senior Portfolio
One of the loans ranks among the senior housing industry’s largest on a per-unit basis.
Nexus Development has secured $276 million in refinancing for Vivante Newport Center and Vivante Newport Mesa, two luxury senior communities totaling 395 units in Newport Beach, Calif., and Costa Mesa, Calif.
JLL Capital Markets arranged two separate loans for the properties. A national bank issued a $140 million note for Newport Center, one of the largest deals on a per-unit basis in the industry’s history. Meanwhile, Newport Mesa obtained a $136 million in agency financing.
Located at 850 San Clemente Drive, Vivante Newport Center is a luxury community which came online in 2022 at the intersection of Jamboree and San Joaquin Hills roads. Within 5 miles, Vivante Newport Mesa opened in two phases—in 2013 and 2020—on a roughly 7-acre site at 1640 Monrovia Ave. The communities are close to multiple medical centers and hospitals, including Hoag Hospital Newport Beach.
Two Orange County senior communities
Newport Center comprises 99 independent living, assisted living and memory care units across a six-story building. The assisted living component has one- and two-bedroom floorplans ranging from 750 to 2,532 square feet, with apartments comprising closets, washers and dryers.
The 296-unit Newport Mesa includes independent living, assisted living and memory care options in two buildings rising three and four stories. The unit mix for assisted living comprises studio, one- and two-bedroom apartments ranging from 444 to 1,783 square feet, while memory-care floorplans feature private, semi-private, shared and private one-bedroom suites.
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Amenities at both communities include dining venues, a bar and a café, with Newport Center also featuring an outdoor deck, fitness center, indoor pool and golf simulator. In addition, the memory care component of both properties includes services such as daily exercise classes, music and aqua therapy, weekly outings, daily activities and 24-hour licensed nurses.
JLL Senior Managing Directors Greg Brown and Aaron Rosenzweig arranged the deal on behalf of the borrower.
Preparing for rising senior housing demand
As the oldest Baby Boomers enter their 80s this year, senior housing construction remains at a historic low, leaving the sector still unprepared for the demographic wave that is just around the corner. About 80 percent of the largest metro areas in the U.S. have either zero or one new senior housing communities under construction, said Brian Landrum, co-head & senior managing director at Harbert Management Corp., in an interview with Multi-Housing News.
Occupancy across the primary U.S. markets peaked at 90 percent in the second quarter of 2026, marking the 20th consecutive quarterly rise, according to NIC MAP data. With student enrollment declining nationwide, experts are already weighting in on whether campus real estate could help meet the growing senior housing demand, as well as ease the costs and challenges of a ground-up development.
