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San Francisco Commercial Real Estate

WHAT’S UP IN EAST BAY

In another sign of the easing-up in construction lending, Continuing Life Communities signed a $250M construction loan for its Stoneridge Creek continuing care retirement community in Pleasanton. COO Justin Wilson says it's one of the largest non-governmental construction loans signed since the beginning of the economic downturn. BofA is leading the syndicate financing for the 46-acre community, which will consist of 635 independent living residences, 68 assisted living apartments (with a memory support area) and 73 skilled nursing beds. Infrastructure construction broke ground in October, and vertical construction is scheduled to start early next month. (They assure us the finished product will not be an impressionist building.)

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