A Nexus Development affiliate has obtained $276 million in refinancing for two senior housing properties in Newport Beach, California, according to Commercial Observer.
The financing covers Vivante Newport Center and Vivante Newport Mesa, which together comprise 395 units. The transaction provides fresh debt capital for a pair of communities in one of Southern California's higher-cost coastal markets.
Bank of America supplied a $140 million loan secured by Vivante Newport Center. JLL Real Estate Capital provided a separate $136 million loan for Vivante Newport Mesa.
The refinancing underscores continued lender activity in senior housing, where property performance and financing availability remain closely tied to local demographics, operating costs and the strength of underlying residential markets.
