MINNEAPOLIS, April 6, 2022 /PRNewswire/ -- Hunter Street, a Minneapolis-based alternative investment management firm, and Mana Investments ("Mana"), an alternative investment manager with a concentration in the real estate sector, are pleased to announce the sale of an approximately nine acre parcel of land to Calson Management ("Calson"), a California-based senior living specialist in construction and operations.
The nine acre parcel of land in Livermore, CA's The Well at Sunset has received approval to be developed into a 130,000 square-foot, 128 unit, senior housing complex that is slated to commence construction in late 2022 and open in late 2024. The housing complex will be designed with accommodations for three types of units which include independent living, assisted living, and memory care. The design's footprint will preserve green space and walking trails around the complex, while also maintaining space with adjacent resident housing.
"We're excited to watch the Calson team continue the project and complete our vision for a high-quality housing facility. We know this addition will be a value-add, not just for The Well at Sunset, but also for the wider Livermore community," said Sean Rohland, Managing Director at Hunter Street. "The pandemic presented unforeseen complexity, and we were fortunate to partner with Calson to reach an outcome that is favorable to all."
The Well at Sunset was originally constructed in 1978 but had been vacant for several years until it was purchased by Hunter Street and Mana Investments in 2018. What followed was the revitalization of the plaza, as The Well at Sunset began a still ongoing redesign with a fresh health and wellness focus. By spring 2022, 49,000 square-feet of office and lifestyle space will have been completed across six single-story buildings.
"This is a win-win, both for the future residents at the senior housing facility and the tenants of the medical and creative office space. We see this as a complementary relationship with residents having access to the shops, medical services, and care specialists at The Well along with members of the broader community," said Orville Power, Managing Partner at Mana Investments.
About Hunter Street Partners
Hunter Street is a Minneapolis-based alternative investment management firm that provides creative capital solutions to operating partner teams and small to mid-sized companies for special situations, asset-based financings, and secondary purchases. The firm is focused on special opportunities across corporate finance, real estate, and specialty finance. Learn more about Hunter Street at www.hunterst.com
About Mana Investments
Mana Investments is a vertically integrated California-based alternative investment firm with a focus on adding value within the real estate sector. The firm targets acquisitions throughout the western United States and prides themselves on enhancement through thoughtful design. For more information, visit manainv.com.
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