Nexus Development has secured $276 million to refinance two luxury senior communities in Orange County. The financing covers Vivante Newport Center and Vivante Newport Mesa, which total 395 units located in Newport Beach and Costa Mesa.
Newport Center and Newport Mesa financing
JLL Capital Markets facilitated two distinct financings for the properties. A domestic lender provided a $140 million loan for Newport Center, which stands as one of the largest per-unit senior housing transactions in industry history. Simultaneously, Newport Mesa secured $136 million through agency financing.
Vivante Newport Center, located at 850 San Clemente Drive, opened in 2022. The six-story building offers 99 units of independent living, assisted living, and memory care. Floorplans range from 750 to 2,532 square feet.
Vivante Newport Mesa, situated on a 7-acre site at 1640 Monrovia Ave, includes 296 units across two buildings. The facility, which opened in two phases between 2013 and 2020, offers independent, assisted, and memory care options.
The 296-unit Newport Mesa offers independent and assisted living, plus memory care, within two structures rising three to four stories. Assisted living units at Newport Mesa include studio, one-, and two-bedroom apartments measuring 444 to 1,783 square feet, while memory-care suites range from private to shared one-bedroom layouts.
Both properties feature dining venues, a bar, and a café. Newport Center also includes an outdoor deck, fitness center, indoor pool, and golf simulator. The memory care components of both communities provide services such as daily exercise classes, music and aqua therapy, weekly outings, and 24-hour licensed nurses.
JLL Senior Managing Directors Greg Brown and Aaron Rosenzweig arranged the deal on behalf of the borrower.
Senior housing demand outlook
As the oldest Baby Boomers enter their 80s this year, the sector faces a significant supply gap. Senior housing construction remains at a historic low, with approximately 80 percent of the largest U.S. metro areas having zero or one new community under construction.
With student enrollment declining nationwide, there is growing discussion about whether campus real estate could help meet the rising demand for senior housing. Occupancy across the primary U.S. markets peaked at 90 percent in the second quarter of 2026, marking the 20th consecutive quarterly rise, according to NIC MAP data.
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