Los Angeles-Area Senior Living Gets $43M
JLL brokered the transaction and secured the loan.
Westlake Senior Living Center has received $43.2 million in financing for Varenita of Westlake, an 86-unit senior housing community in Thousand Oaks, Calif.
JLL Capital Markets brokered the transaction and secured the five-year loan, which was provided by a regional bank, with Director Alanna Ellis and Associate Ace Sudah leading the team working on behalf of the borrower. The identity of the lender could not immediately be learned.
Varenita of Westlake comprises 58 assisted living units and 28 memory care units. The services provided by the Class A community include daily wellness checks and health monitoring, emergency response systems, medication management, assistance with daily tasks, a 24-hour trained staff, restaurant dining and housekeeping and concierge services, among others.
Designed by Irwin Partners and developed by Griffin Living, the community incorporates studios and one- and two-bedroom floorplans which range from 402 to 975 square feet. Common-area amenities include a fitness center, wellness center, theater and an art studio, as well as community and game rooms, a bistro and lounge, outdoor patios, grilling areas and walking paths.
Located at 95 Duesenberg Dr., Varenita of Westlake is near Route 101, which provides direct access to downtown Los Angeles. Thousand Oaks is located midway between Los Angeles and Santa Barbara. The property is within walking distance of Russell Park and near many dining options and retailers.