Canyon Partners Real Estate has provided $10.6 million in preferred equity financing to Calabasas developer Griffin Fine Living to build a senior living community in Simi Valley, according to Multi-Housing News.
Griffin Plaza Senior Living has been conceived as a two-story complex replete with 100,000 square feet of space and including 75 assisted living units and 26 memory care units, for a total of 101 units. Amenities will include an arts and crafts room, a salon and a juice bistro.
The property will be situated within the existing 13-acre Griffin Plaza Retail Center near the 118 freeway and Tapo Canyon Road. Construction has been set to begin immediately with a late 2019 completion date.
Solvere Living, a full-service senior housing management firm with properties throughout the United States, will operate the complex.
Canyon Partners, which was founded in 1991, has undertaken more than $700 million of debt and equity investments in Southern California over the past five years.