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JLL arranges $276M refinancing for Newport Beach seniors housing portfolio
The refinancing includes a $140.0 million loan for Vivante Newport Center and a $136.0 million agency loan for Vivante Newport Mesa.
JLL Capital Markets arranged $276 million in refinancing for Vivante Newport Center and Vivante Newport Mesa, a two-property seniors housing portfolio in Newport Beach, according to ConnectCRE.
The transaction included two uncrossed loans arranged on behalf of the borrower, an affiliate of Nexus Development, with a $140.0 million loan for Newport Center through a national bank and a $136.0 million agency financing for Newport Mesa.
ConnectCRE adds that the Newport Center financing is described as one of the largest loans per unit in the seniors housing industry’s history, with Vivante Newport Center built in 2022.