JLL Arranges $276M Refinancing for Nexus Development's Two Newport Beach-Area Senior Housing Communities

NEWPORT BEACH, Calif. — JLL Capital Markets announced Oct. 2 that it has arranged $276 million in refinancing for Vivante Newport Center and Vivante Newport Mesa, a two-property seniors housing portfolio in the Newport Beach, California, metro area. The borrower is an affiliate of Nexus Development.

JLL's Debt Advisory team representing the borrower was led by Senior Managing Director Greg Brown and assisted by Senior Managing Director Aaron Rosenzweig, the firm said.

Two Uncrossed Loans Structure the $276M Refinancing

JLL secured two uncrossed loans for the portfolio. A $140 million loan was arranged for Vivante Newport Center through a national bank, and a $136 million agency financing was arranged for Vivante Newport Mesa. Because the loans are uncrossed, each property stands on its own collateral and cash flow.

JLL said the Newport Center financing is one of the largest loans per unit in the seniors housing industry's history. Based on the loan amount and unit count, the Newport Center loan equates to roughly $1.41 million per unit. The Newport Mesa loan equates to about $459,459 per unit, and the combined portfolio financing works out to approximately $698,734 per unit across 395 units. Those figures are calculated from loan amounts and unit counts rather than appraised values.

Vivante Newport Center: 2022-Built Luxury Community

Vivante Newport Center was built in 2022 and is a six-story community with 99 units of independent living, assisted living and memory care. The property is at 850 San Clemente Drive, adjacent to the Fashion Island retail district and minutes from Hoag Hospital Newport Beach.

The community's amenities include The Piazza outdoor deck with a wood-fired pizza oven and cabanas, Provence Restaurant, The Nightcap Cocktail Bar, Café Gourmand, the Vitality Fitness Center and The Springs indoor pool. It also has a theater, bowling alley and golf simulator. Residences range from approximately 750 to 2,532 square feet, depending on floor plan.

Vivante Newport Mesa: 296-Unit Campus Opened in Two Phases

Vivante Newport Mesa opened in two phases, in 2013 and 2020, and offers 296 units of independent living, assisted living and memory care. The 6.81-acre campus at 1640 Monrovia Ave. in Costa Mesa consists of one three-story building and one four-story building. It sits near the Costa Mesa Freeway, retail offerings at South Coast Plaza and medical services at Hoag Hospital Newport Beach.

Floor plans at the community range from approximately 444 to 1,783 square feet. Nexus opened the community in 2013 after redeveloping a roughly seven-acre Costa Mesa site.

Market Context: Selective Lending for Senior Housing

The transaction comes as senior housing fundamentals are improving while lenders remain selective. Newer, well-located communities offering independent living, assisted living and memory care are generally better positioned for financing than older assets requiring significant capital improvements. Proximity to Hoag Hospital Newport Beach is a feature shared by both properties, and the separate loans mean lenders could evaluate each community independently.

Orange County is an affluent, supply-constrained coastal market, and the properties' proximity to retail, transportation and medical facilities supports their appeal to residents and families.

About the Parties

Nexus Development is a full-service real estate development firm founded in 1981, with offices in Santa Ana, California; Phoenix, Arizona; and Dallas, Texas. It is a privately held developer operating in the Western United States.

JLL Capital Markets provides capital solutions for real estate investors and occupiers, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity and fund placement, net lease, derivative advisory and energy and infrastructure advisory. The group has more than 3,000 specialists worldwide with offices in nearly 50 countries. Parent company JLL (NYSE: JLL) reported annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026.

Sources

JLL newsroom: JLL arranges $276M refinancing for two Newport Beach seniors communities (Oct. 2, 2026).