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Contour Acquires Senior Housing Property In Southern California With $31.6M Loan

Property Image
FINANCED
$31,600,000
Alanna Ellis
Jeff Sause

California

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Other148,104 SF
Financed 10/19/2021
the dealplayerscompscontact
Property Image
FINANCED

Contour Acquires Senior Housing Property In Southern California With $31.6M Loan

1735 South Mission Road, Fallbrook, CA, USA

See Similar Deals
Other148,104 SF
Financed 10/19/2021
Alanna Ellis
Jeff Sause
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Other
Price Per Square Foot:$213
Total Square Footage:148,104 SF
Transaction Type:Loan

Contour has acquired a senior housing property located at 1735 South Mission Rd in Southern California. The property consists of 103 units with a total of 114 beds, spread across 3.4 acres. The transaction took place on October 19, 2021.

Summary of transation details

  • Property Type: Senior Housing
  • Transaction Amount: $31,600,000
  • Loan Type: Acquisition & Mezzanine
  • Loan Terms: Three-year, floating-rate bank loan & four-year, fixed-rate mezzanine loan
  • Landlord: Contour
  • Brokers: Alanna Ellis & Jeff Sause - JLL Capital Markets

The loan amount for the acquisition and mezzanine financing of the property is $31,600,000. The financing structure includes a three-year floating-rate bank loan and a four-year fixed-rate mezzanine loan.

Players

Jeff Sause
JLL
Jeff Sause
33 deals$1.6B volume
BROKER
Alanna Ellis
JLL
Alanna Ellis
9 deals$469.7M volume
BROKER
C
Contour
LANDLORD

Details

FINANCED
IMAGE: Alanna Ellis & Jeff Sause DATE: 10/19/2021 ADDRESS: 1735 South Mission Rd MARKET: Southern California ASSET TYPE: Senior Housing ~ UNITS: 103 ~ BEDS: 114 ~ ACRES: 3.4 LANDLORD: Contour BROKERS: Alanna Ellis & Jeff Sause - JLL Capital Markets LOAN AMOUNT: $31,600,000 LOAN TYPE: Acquisition & Mezzanine LOAN TERMS: three-year, floating-rate bank loan & four-year, fixed-rate mezzanine loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$31,600,000.00

Monthly NOI$210,666.67
Monthly Debt Service$199,733.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00