JLL and HJ Sims secure $80.07 million in tax-exempt bond financing for premium California senior living community

SEATTLE, Sept. 5, 2025 -  JLL Capital Markets and HJ Sims announced today that, collectively, they successfully closed $80.07 million in tax-exempt bond financing for a new Sunrise Senior Living community, Sunrise of Long Beach, a premium 86-apartment seniors housing community located at 3340 North Los Coyotes Diagonal in Long Beach.

On behalf of Quality Senior Housing Foundation, Inc. and Sunrise Senior Living, JLL's Seniors Housing Capital Markets team, in collaboration with the bond underwriting teams of HJ Sims and JLL Securities, secured financing through California Public Finance Authority Senior Living Revenue Bonds, Series 2025A.

The two-story, 78,227-square-foot community will feature 62 assisted living and 24 memory care apartments across 102 licensed beds. Assisted living accommodations will include generously sized studio layouts with private bathrooms, kitchenettes with refrigerators and individually controlled HVAC systems, while memory care offerings will include both private studios and shared suites, thoughtfully designed to accommodate couples or roommate preferences.

Designed in a Spanish Revival architectural style, with smooth stucco exteriors and tile roofs, the community will include an expansive lifestyle amenity package featuring a wellness center, multiple dining venues including a formal dining room and casual bistro, library, theater room, fitness center, beauty salon and four secure landscaped courtyards.

The community is strategically positioned in an affluent residential area near the Long Beach-Orange County border, with convenient access to major transportation corridors including the I-605 and I-405 freeways. This prime infill location provides convenient access to regional medical facilities, shopping and dining, all while maintaining the peaceful, residential character that is highly valued by senior living residents.

Sunrise Development Inc. is serving as the developer for the project, with W.E. O'Neil Construction Company of California, as general contractor and HPI Architecture providing design services. The community is expected to open in the first quarter of 2027.

"We are thrilled that our team has structured and facilitated this exceptional financing for Sunrise of Long Beach," said Jay Wagner, Senior Managing Director and co-head of JLL Capital Markets' Seniors Housing group. "The project represents only the second new senior living community to be delivered within five miles of the site in the past 22 years, highlighting the high barriers to entry in this desirable submarket. We could not be more excited for our clients and the community to deliver this transformational project that will set a new standard for luxury senior living in Southern California."

Aaron Rulnick, Managing Principal and Head of Investment Banking at HJ Sims, commented, "We are very pleased to partner with Quality Senior Housing Foundation, Inc. on this financing, as we have enjoyed a long-standing relationship with Stan Brading. We are also very grateful for the opportunity to work with Sunrise Senior Living, who brings exceptional operational and development expertise to this project and whose leadership has demonstrated a commitment to educating municipal bond investors about the unique values of rental senior living communities."

"We are excited to begin construction on Sunrise of Long Beach, our second Southern California development, start this year," said Philip Kroskin, Head of Real Estate and SVP, Investments at Sunrise Senior Living. "We anticipate a third community to break ground before year end. Both projects reflect our ongoing commitment to bringing high-quality, purposefully designed senior communities to markets with growing demand for senior living. We are proud to partner with JLL, HJ Sims and the Quality Senior Housing Foundation to deliver on that mission."

This financing and development effort reflects the strong ongoing partnership between Sunrise Senior Living, JLL Capital Markets, HJ Sims and the Quality Senior Housing Foundation. The collaboration builds on a shared commitment to delivering high-quality, purpose-built communities that meet the evolving needs of today's seniors.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

HJ Sims is a specialized investment bank focused on providing unique capital structures for seniors housing and skilled nursing care providers. Since 1935, Sims has provided investment banking, wealth management, and institutional services, helping individual investors, organizations, municipalities and institutions realize their potential. From building wealth to building communities, HJ Sims helps clients navigate an uncertain world.

For more news, videos and research resources, please visit JLL's newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.