The subject property is adjacent to Beverly Hills near the intersection of La Cienega and Olympic Boulevards. It received its entitlement to build 154,168 square feet of improvements and an additional 77,000 square feet of underground parking to house a full service independent living, assisted living, and memory care facility. Based upon preliminary plans, it is expected to have state of the art construction quality and lasting design. In the greater West Los Angeles area there is a critical shortage of senior housing and assisted living, and the subject’s appeal to the market is considered to be very strong.
Beverly Hills, California