Harbert Management Corporation Capitalizes The James Senior Housing Project in Irvine
Deal News | Dec 02, 2024 | Harbert Management Corporation
Harbert Management Corporation, through its Harbert South Bay team and partnering with various organizations, announced a significant financial transaction for the development of The James, a senior living community in Irvine, California. This project marks the first senior housing development in the city in 28 years. The financing, arranged by JLL Capital Markets and HJ Sims, totals $473 million in both tax-exempt and taxable bonds, making it the largest such financing in the senior living sector for the year, and the most substantial non-profit single-site senior living bond issue to date.
Sectors
- Real Estate Development
- Senior Housing
- Financial Services
Geography
- United States – The project and the financing arrangements are taking place within the United States.
- California – Specifically, the project is located in Irvine, California, marking a regional focus for the development.
Industry
- Real Estate Development – The article discusses a significant real estate development project - The James, a senior housing community in Irvine, California.
- Senior Housing – The development is a seniors housing community, addressing a niche sector within real estate.
- Financial Services – The involvement of JLL Capital Markets and HJ Sims in arranging bond financing highlights the financial services sector.
Financials
- $473 million – Total amount of tax-exempt and taxable bond financing arranged for The James project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Harbert Management Corporation | Private Equity Firm | Company | A private equity firm involved in capitalizing the development of The James. |
| Harbert South Bay | Developer | Company | The branch of Harbert Management Corporation responsible for developing The James project. |
| JLL Capital Markets | Financial Advisor | Company | They arranged the bond financing for The James project. |
| HJ Sims | Financial Advisor | Company | Partnered with JLL Capital Markets to arrange bond financing. |