News release

$31.6M financing secured for seniors housing in Southern California

JLL Capital Markets arranged the acquisition and mezzanine loan for Estancia Senior living 

October 19, 2021

Cierra Lacasse

Hotels & Hospitality and Capital Markets
+ 1602 648 8701

San Diego, Calif., Oct. 19, 2021 – JLL Capital Markets announced today that it has arranged $31.6 million in acquisition and mezzanine financing for Estancia Senior Living, a 103-unit, 114-bed, newly developed, Class A assisted living and memory care community in the Southern California community of Fallbrook.

JLL worked on behalf of the borrower, Contour, to secure the $24 million three-year, floating-rate bank loan. Additionally, JLL worked to secure a $7.6 million, four-year, fixed-rate mezzanine loan.

Estancia Senior Living is a brand-new senior living community, which debuted Summer 2021. The Class A 104-unit two-story facility is 88,892 square feet and features a mix of 79 assisted living accommodations and 25 memory care rooms on a 3.4-acre site. The sale also included approximately 5 acres of additional vacant land, located directly adjacent to the property.

Estancia Senior Living is operated by Meridian Senior Living, a top nationally ranked operator in the space, who has been involved with the project’s planning and design from the outset. Amenities include restaurant-style dining, two landscaped courtyards, fitness classes, physical therapy center, daily wellness and social activities, beauty salon, spa and hot tub, movie theater, transportation services, laundry facilities and more.

Located at 1735 South Mission Rd., Estancia Senior Living offers residents excellent access to a variety of amenities and activities such as the private-public golf course The Golf Club of California, Pala Casino & Spa and Welk Resorts San Diego and nature trails. Additionally, residents have convenient access to the Interstate 15 and CA-76 highways, providing access to San Diego and surrounding affluent suburbs such as Oceanside, Carlsbad, and Encinitas. Temecula Valley Hospital is located within 7 miles of the property.

Although the greater region has seen a significant amount of commercial activity in recent years, development of senior housing product has lagged with only two new projects delivered in the last 17 years. Seniors continue to choose to reside in suburban neighborhoods due to their relative value comparison and desire to remain in their neighborhood communities. Within the two MSA’s the project will draw residents from the over 75 age population of 545,668, with projected growth of 3.99 percent with an underlying affluent demographic.

The Capital Markets Debt and Equity Advisory team representing the borrower included Director Alanna Ellis and Senior Director Jeff Sause.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Contour 

Contour is a privately-owned commercial real estate investment and development company formed in 2018 as the vertical development arm of a family-owned land-trade business established in 1987. The company is a vertically integrated opportunistic real estate firm that develops, owns and operates property throughout the United States.  Contour is the next generation in real estate development, combining more than 20 years of real estate experience, industry knowledge and solid relationships. Known for transforming spaces, businesses, and communities, Contour has a keen eye for quality and design, data-driven insights, and recognizing regional needs. Contour’s decisions are guided by market-leading research and a commitment to precise execution while remaining entrepreneurial in its approach to opportunity. Contour's executive management team has over 60 years of experience spanning more than 75 million square feet and $36 billion across all asset classes.