Dekel Capital Arranges $14 Million Bridge Loan for Senior Housing Facility in Fresno, CA

LOS ANGELES - Aug. 21, 2018 - PRLog -- Dekel Capital, a Los Angeles-based real estate merchant bank that specializes in sourcing and placing equity and debt for active middle market commercial real estate developers and investors, has successfully placed $14 million in bridge financing on behalf of Mountain Capital Partners and Willis Development to enable sponsors to retire existing construction financing and enable continued stabilization of  Kingston Bay, an assisted living and memory care development located in Fresno, California, announced Dekel Managing Principal Shlomi Ronen.

Dekel Capital structured a $14.1 million, 24-month, interest only, bridge loan that will allow the sponsor to continue to stabilize the existing Assisted Living and Memory Care Facility. The facility provides an opportunity for the ownership group to create value through lease up of the remaining units.

"We were able to obtain fixed rate bridge financing more competitive than any of the floating rate options available in the market." Said Shlomi Ronen, managing principal and founder of Dekel Capital.

Sitting on four acres, the 86,467 square foot community has 107 state-of-the-art residences. The assisted living area consists of 61 one bedroom and 22 studio apartment homes. In memory care, an area designed for those with Alzheimer's and other forms of dementia, there are 24 memory care residences. This senior living community provides an active and healthy lifestyle while promoting independence and upholding the dignity of the residents.

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About Willis Development:

Willis Development was founded by Wayne Naphtal with the intent to develop senior living properties. Mr. Naphtal has over thirty years of accomplished real estate development experience from acquisition to project disposition. Prior to forming Willis Development, Mr. Naphtal founded First Family Homes and led the full cycle of development from entitlement to disposition for multi-family residential properties in excess of $500 million. In addition to Sage Tucson, Mr. Naphtal has recently completed a 120 bed Assisted Living + Memory Care facility in Fresno, CA and is under construction on a 130 bed Assisted Living + Memory Care facility in Thousand Oaks, CA.

About Dekel Capital:

Dekel Capital is a Los Angeles-based real estate merchant bank with proven expertise in capital market advisory and private equity in commercial real estate. The firm serves an elite group of commercial real estate operators, investors and developers with an exclusive, boutique approach, allowing them to create tailored solutions that address unique capital challenges. Over the past 15 years, the team at Dekel Capital has financed a combined $2 billion of structured transactions. For more information, please visit www.dekelcapital.com.