$43.24M in financing secured for 86-unit assisted living and memory care community in California

SEATTLE, Sept. 20, 2023– JLL Capital Markets announced today that it arranged $43.24 million in financing for Varenita of Westlake, an 86-unit assisted living and memory care community in Thousand Oaks, California.

JLL represented the borrower, Westlake Senior Living, Center, LLC, to secure the five-year loan from a regional bank.

The Class A community consists of 58 assisted living units and 28 memory care units across three stories with surface and underground parking. The community features a mix of predominantly one-bedroom units, with studios and two-bedroom units.

The community features a selection of on-site community amenities including designated dining rooms, a bistro, art room, a spa and salon. It also boasts a movie theatre, laundry facility, fitness center with physical and occupational therapy, wellness center, outdoor patios and walking paths.

Located at 95 Duesenberg Dr., Varenita of Westlake is located within walking distance of some of the nation’s largest retailers and less than four miles from The Oaks, an open-air and enclosed shopping center.

Varenita offers unmatched local and regional access via some of Ventura County’s most trafficked thoroughfares. It is located near the intersection of East Thousand Oaks Blvd., a major east-west artery which connects Thousand Oaks to Westlake Village, Agoura Hills, and Boardwalk Avenue, which links the community to many of its plentiful nearby amenities. Varenita is also located less than one mile from U.S. Route 101, which offers direct links to Los Angeles and Woodland Hills.

Thousand Oaks is the second-largest city in Ventura County, conveniently located between Los Angeles and Santa Barbara. This upscale community is recognized as one of the most desirable places in all of California to live, work and raise a family. A refreshing contrast from the hustle and bustle of Los Angeles, Thousand Oaks prides itself on its identity as one of the greenest cities in the county, and one of the safest cities in the US.

The JLL team was led by Director Alanna Ellis and Associate Ace Sudah.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.