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Tuesday, Aug 9, 2022
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Calabasas Developer Secures $10.6M to Build Simi Valley Senior Complex

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.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.
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