Dekel Provides Equity for Senior Facility in Ventura County
- Sep 26, 2016
By Alex Girda
Thousand Oaks, Calif.—An assisted living and memory care facility development project in Ventura County, Calif., recently secured the necessary financing. Financed through Dekel Capital’s Dekel Strategic Investors platform, the Sage Mountain Senior Living community received equity totaling $16.1 million for its development. Construction on the project began earlier this month and is slated to be finalized by the start of 2018.
Sage Mountain Senior Living is taking shape near the Highway 101 in Thousand Oaks, Calif., and will provide residents with proximity to retail centers such as The Oaks, and The Promenade at Westlake. Developed in a cul-de-sac style setting, the community will consist of 130 residences and will total 58,154 square feet of space. As the baby boomer generation continues to join the senior population, more senior living facilities will be needed to address the growing segment and their needs.
The unit mix will consist of 98 assisted living units and 32 memory care units within a dedicated wing. Bearing an average size of 453 square feet of space, the units will be fully handicap accessible, and will feature extra wide doors, as well as handicap bathroom fixtures. Amenities will include a fitness center, library, salon, as well as a 41-space parking facility.
Image courtesy of Dekel Capital