A joint venture between Singerman Real Estate and Darnell Capital is developing a brand-new assisted living/memory care community in Palos Verdes, California, thanks in part to construction financing arranged by Richard Swartz, Jay Wagner, Aaron Rosenzweig, Tim Hosmer and Bailey Nygard of Cushman & Wakefield. A large regional bank provided $23 million in debt at favorable terms.
Set in a three-story former office building, the community will feature 87 units and 65,000 square feet. Phoenix-based Cadence Living will operate the community upon completion.
