An assisted living/memory care development in Tracy, California is going ahead thanks to a partnership arranged by Jacob Gehl, Scott Frazier and Humair Sabir of Blueprint Healthcare Real Estate Advisors. Summit Senior Life, a Newport Beach, California-based developer, and Cadence Living, a Scottsdale, Arizona-based operator, were planning this project on a 2.8-acre site to include 77 assisted living and 24 memory care units. The site is adjacent to Lennar at Tracy Hills, a large masterplan community that includes 5,000 single-family homes and 58 acres of commercial spaces, hotels, schools and offices.
However, Summit and Cadence needed to be introduced to capital sources to move the project ahead and worked with the Blueprint team to sign an agreement with Link Development and MedCore Partners. Now, construction is expected to begin in 2022.
