BridgePoint at Beverly Hills, an assisted living community located at 220 N. Clark Dr., is collecting toys for underserved children to be distributed through Urban Land Institute (ULI) Young Leaders to four charities groups: Little Tokyo Service Center, Ocean Park Community Center, A Place Called Home, and My Stuff Bags.

“We encourage neighbors and friends to join our residents and associates in supporting this worthy endeavor by dropping off new, unwrapped toys between Thanksgiving week through mid December,” said Robert Goldberg, Executive Director of BridgePoint at Beverly Hills.

Bennett Johnson, Co-Chair of the Public Service Committee of ULI’s Young Leaders Group in LA reported that the group collected 500 toys last year and, with the help of charitable citizens and businesses like BridgePoint at Beverly Hills, hopes to collect closer to 1,000 toys this year.

For more information, call BridgePoint at Beverly Hills at 310.860.9234.

About BridgePoint at Beverly Hills

Located at 220 North Clark Drive in Beverly Hills, California, BridgePoint at Beverly Hills is a 59-residence assisted living community known for their intimate atmosphere and boutique style services. Managed by Watermark Retirement Communities, BridgePoint at Beverly Hills is committed to creating an extraordinary community where people thrive.

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By Bob Howard

CENTURY CITY, CA-A joint venture of locally based QVT Mount Auburn Capital and Watermark Retirement Communities of Tucson, AZ has acquired two seniors housing facilities in Beverly Hills and Livermore, CA totaling 142 units. Ash Baraghoush of QVT Mount Auburn tells GlobeSt.com that the properties include a 60-unit assisted living facility in Beverly Hills that was built in 2000; the Livermore asset is a 64 unit assisted living and 18-unit memory care facility that was built in 1974 and renovated in 2008. Terms of the sale were undisclosed, but industry sources pegged it at more than $31.9 million.

Baraghoush says, “This acquisition provided QVT MAC the opportunity to own two senior housing facilities in strong markets in California with a very experienced owner/operator of senior housing. Given our basis, the asset’s location, and minimal vacancy for like product, we are confident that owning these assets will produce strong returns for our partner and investors.”

Baraghoush commented that QVT MAC is “very bullish on the senior sector due to the significant growth of the seniors population coupled with an insufficient supply of near term existing senior housing.” The QVT Mount Auburn joint venture has acquired the assets at a time when the seniors housing market has improved significantly, according to a report described recently on GlobeSt.com.

In that report, Marcus & Millichap’s Seniors Housing Research Report for the first half of 2011, Marcus & Millichap SVP Mike Pardoll said, “The seniors housing sector has improved significantly since last year, as demand begins to pick up from aging baby boomers.”
As the GlobeSt.com report noted, during 2011, occupancy in the independent living sector is forecast to improve 80 basis points to 88.1%, supporting a 1.1% increase in rents to $2,678 per month. Assisted living operations will hold relatively steady, M&M predicts, but a modest rise in completions will lower the occupancy rate 40 basis points to 88% this year. As operators compete for residents, rent growth will ease to just 0.8% to $3,543 per month.
QVT MAC acquired the Beverly Hills and Livermore properties from an institutional owner/operator of senior housing facilities across the nation. CBRE capital markets arranged the debt financing with GE Health Care.

QVT typically invests in projects with an expected term of three to seven years. “This allows us to be flexible with respect to longer term strategies,” Baraghoush says. The company focuses on residential, multifamily, industrial, office, and retail investments nationwide, targeting deals ranging from $10 million to $70 million.

QVT MAC looks to acquire opportunistic and value-added investments. “We have the ability to respond quickly due to the small team of principals with full investment discretion,” Baraghoush says.

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