Announcing DWC’s Otay Ranch Senior Living Project

by admin on May 12, 2017

 “We are very attentive to the uptick in the senior living market and are dedicated to committing the resources necessary to develop a successful senior living portfolio”

– Douglas Wilson

Irvine, CA, May 10, 2017 – In its exclusive representation of a joint venture between Douglas Wilson Companies and Milestone Retirement Communities, LLC, Cushman & Wakefield Senior Housing Capital Markets raised over $8.3 million of institutional equity capital as well as nearly $22 million in construction debt financing for a 111-unit assisted living and memory care development in Chula Vista, California. The project is located in the newly developed and affluent master planned community of Otay Ranch which boasts exceptional income and home values as well as premier access to Downtown San Diego. Construction on the site is slated to begin in May 2017 with an anticipated opening in the fall of 2018. “We are very attentive to the uptick in the senior living market and are dedicated to committing the resources necessary to develop a successful senior living portfolio”, said Douglas Wilson.

Otay Ranch Development

The community will consist of a two-story building on a 4.5-acre site situated along a major transportation route in an amenity-rich neighborhood with strong school systems and pedestrian friendly streets. The project will offer 85 AL units and 26 MC units and include luxury amenities for its residents. Milestone Retirement Communities will manage the property. Wells Fargo is providing the construction loan.

The Cushman & Wakefield team involved in the transactions included Executive Managing Director Rick Swartz, Executive Director Jay Wagner, Senior Director Aaron Rosenzweig, Director Jim Dooley and Associate Alex Petrosian. “The tremendous growth that is occurring in this dynamic submarket of San Diego County, combined with the strength of the Douglas Wilson Companies-Milestone Retirement Communities partnership, made this a very attractive opportunity for the equity partner and for Wells Fargo” Swartz said. “We anticipate the partnership’s relationships with both of these groups to grow significantly in the coming years.”

For more information or future senior living opportunities please contact Michele Vives at (619) 906-4376.

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