The BLVD Group Acquires Bonnie Brae Terrace Senior Housing In Belmont, CA For $18M

The BLVD Group, represented by Robert Budman, has acquired the 164-unit Bonnie Brae Terrace senior housing community in Belmont, CA. The property, located at 2400 Carlmont Drive, was sold by Lesley Senior Communities, represented by Catherine Evans. The sale price for the property was $18 million.

Summary of transaction details

• Property Type: Senior Housing
• Transaction Amount: $18,000,000
• Address: 2400 Carlmont Drive
• Market: Belmont

The BLVD Group plans to renovate the Bonnie Brae Terrace senior housing community, ensuring its affordability and enhancing its amenities. The acquisition was made possible through a $10.8 million Fannie Mae loan obtained by The BLVD Group. The future renovations will include the addition of a fitness center and a movie room.