JLL Capital Markets successfully arranged a $52 million refinancing deal for Atria Newport Beach, a senior living community consisting of 168 units in the desirable location of Newport Beach. The borrower, which is a partnership between a national REIT and Atria Senior Living, was represented by senior managing director Aaron Rosenzweig and director Dan Baker.
The financing was provided by MidCap Financial, an established commercial finance company that specializes in middle market transactions. This first mortgage loan has a floating-rate structure.
Atria Newport Beach is situated at 393 Hospital Rd., close to both Newport Boulevard and Hoag Hospital. The Class A property consists of two phases: the North Building underwent extensive renovations in 2023 while the South Building was purpose-built and opened its doors to residents in 2021. With three stories each, these buildings offer studio, one-, and two-bedroom layouts for independent living as well as assisted living and memory care units.
