After securing a $23 million loan, the developers behind plans for a senior housing complex on the Palos Verdes Peninsula are finally ready to break ground.
27520 Hawthorne Boulevard in Rolling Hills EstatesGoogle Street View
Peninsula Pointe, a jointe venture between Chicago-based Singerman Real Estate and Darnell Capital, is slated to replace a vacant office building located at 27520 Hawthorne Boulevard in Rolling Hills Estates. The completed project would include 87 units of assisted living and memory care housing.
A rendering of the project depicts Peninsula Pointe as a three-story structure with a porte-cochère. Phoenix-based Cadence Living has been tapped to operate the facility.
Construction financing for the development was arranged by the Senior Housing Capital Markets team at Cushman & Wakefield, including vice chairman Richard Swartz, executive managing director Jay Wagner, executive director Aaron Rosenzweig, director Tim Hosmer, and associate Bailey Nygard.
27520 Hawthorne Boulevard in Rolling Hills EstatesGoogle Maps
Peninsula Pointe is expected to open for occupants in 2022.
The project that will eventually built has been in the works since at least 2015, and was downsized from an earlier iteration of the plan which called for a larger structure with 102 senior housing units.
