Joint Venture Buys Thousand Oaks Assisted Living Facility

Belmont Village Thousand Oaks, an assisted living and memory care facility, has been acquired by a joint venture between its current operator and original developer, Belmont Village Senior Living, and Boston, Mass.-based private equity investment advisor Blue Moon Capital Partners. L.A.-based CBRE Group Inc. said its capital markets division has arranged for $80 million in financing for the joint venture to buy the facility and Belmont Village Scottsdale, a similar facility in Arizona, through a seven-year fixed-rate loan. Belmont Village Senior Living developed the senior housing facility, located at 3680 N. Moorpark Road, and sold it while continuing to operate it. Under the joint venture, Belmont will continue to operate the facility and partner with Blue Moon in its ownership. The two facilities have a total of 275 units.