Harbert Management Corp.’s South Bay team announced that it has capitalized the ground-up development of The James, a luxury rental, 350-bed senior housing community in Irvine, Calif.
The team, along with partners P3 Foundation and Momentum Senior Living, worked with JLL and HJ Sims to arrange a $473 million tax-exempt and taxable bond financing for the ground-up development of The James, which is the largest tax-exempt senior living financing of the year and largest nonprofit single-site senior living bond issue in history.
The James will be the first new senior living community in the Irvine market in 28 years, positioning it as the premier senior housing property in the area. The community will offer 210 independent living units, 110 assisted living units and 30 memory care units with a mix of studio, one- and two-bedroom luxury rental units. An amenity package will be available, including multiple dining venues, indoor pool and spa, wellness gym and yoga studio,
