Dekel Capital Structures $59.4 MM Debt and Equity Package for Senior Care Facility in Los Angeles

By: Dekel Capital
Sage Glendale Rendering
Sage Glendale Rendering
Spread the Word
Listed Under


Real Estate

Los Angeles - California - US


LOS ANGELES - Jan. 29, 2019 - PRLog -- Real estate merchant banking firm Dekel Capital has assembled $59.4 million in debt and equity financing for the development of a 113-bed assisted living and memory care facility in Glendale, CA.

The financing consists of a $38.7 million construction loan originated by East West Bank and arranged through Dekel Capital's advisory practice.   The four-year financing, with interest only monthly payments for the first 36 months of the term, was underwritten at 65% LTC.    Dekel also provided $20.7 million in joint venture equity through the firm's proprietary equity fund Dekel Strategic Investors.

Developed by Willis Development, Sage Glendale Senior Living will consist of 81 assisted living units, 24 private memory care units and four semi-private memory care units.   Amenities will include community garden, library, theater, classrooms, exercise area, commercial kitchen and beauty salon.    Sage Glendale is located at 509-525 W. Elk Avenue in Glendale, CA, nine miles north of downtown Los Angeles. It is expected to be completed in the first quarter of 2020.

Sage Glendale is the only assisted living or senior care facility under construction in a severely supply constrained Glendale submarket, according to Dekel Principal Shlomi Ronen who structured the financing.

"The Public Policy Institute of California estimates that by 2030, more than one million seniors will require some assistance with self-care," said Ronen.  "In Glendale, where there are fewer than 20 facilities to serve a growing senior population of more than 200,000, this financing will help Willis Development meet the current and future demand for quality senior housing in what is the third largest city in Los Angeles County."

About Dekel Capital:
Dekel Capital is a Los Angeles-based real estate merchant bank with proven expertise in capital market advisory and private equity in commercial real estate. The firm serves an elite group of commercial real estate operators, investors and developers with an exclusive, boutique approach, allowing them to create tailored solutions that address unique capital challenges. For more information, please visit

Bruce Beck
DB&R Marketing Communications, Inc.
Email:*** Email Verified
Industry:Real Estate
Location:Los Angeles - California - United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
DB&R Marketing Communications PRs
Trending News
Most Viewed
Top Daily News

Like PRLog?
Click to Share