South Bay Partners and West Bay Senior Living to Develop Upscale Senior Living in LA
338-unit Class A midrise to break ground next year in Warner Center
Dec 14, 2018, 08:34 ET
WOODLAND HILLS, Calif., Dec. 14, 2018 /PRNewswire/ -- South Bay Partners, Inc., through its joint venture with LAMB Properties, LLC, has closed on the purchase of two parcels comprising 2.72 acres and will break ground in early 2019 on THE VARIEL, an eight story Class A upscale rental senior living midrise in an excellent, walkable location of Warner Center. THE VARIEL will provide a progressive approach to senior living focused on personal growth and a holistic view of life. The project will be comprised of 215 independent living units, 94 assisted living units and 29 memory care units with secure structured parking.
THE VARIEL will include extensive amenity space for its residents incorporating the following: indoor therapy pool and spa, wellness gym, yoga studio, several bar/lounge areas, two theaters, conservatory, outdoor garden, dog wash and dog run, art studio, multiple indoor/outdoor dining venues and courtyard areas with barbeque grills, fire pits, seating areas and putting green. Residents of THE VARIEL will enjoy a best-in-class experience with easy access to Westfield Topanga and The Village for dining and shopping experiences plus the Kaiser Permanente Woodland Hills Medical Center, a 264-bed hospital, all within one mile of THE VARIEL.
"We are excited to bring upscale senior living to the dynamic growth of Warner Center," said Patrick McGonigle, Senior Vice President for South Bay Partners, Inc. "We believe there is tremendous demand for upscale, highly amenitized rental senior housing in walkable locations. The Variel will bring a higher level of quality of life to seniors of Woodland Hills."
THE VARIEL will open in Q4 2020, with pre-leasing starting in Q4 2019. The community will be managed by West Bay Senior Living, a Los Angeles-based company providing management and operational services to senior living communities in Southern California. "We envision The Variel as a welcome change compared to other senior living communities," says Jim Biggs, West Bay Chief Executive Officer. "This is the first of several LA basin projects we are planning that will reflect Southern California values and lifestyles."
About South Bay Partners, Inc.:
South Bay Partners is one of the most highly respected senior living developers in the United States and has completed over 10,000 senior living units nationwide with a total cost of over $1 billion. In its 24-year history, South Bay Partners has experience developing all senior living product types including senior apartments, independent living, assisted living, memory care and skilled nursing.
South Bay Partners is headquartered in Dallas, Texas and has just under 2,000 units under construction or in design/predevelopment throughout the U.S. with a total capitalization of over $1 billion.
About West Bay Senior Living:
West Bay Senior Living was founded by two industry executives, Jim Biggs and Josh Johnson, who have decades of experience successfully guiding senior living communities across the U.S. The company also has a valuable perspective on international best practices gained through experience developing and managing senior living communities in China.
Headquartered in the Los Angeles area, West Bay is uniquely suited to manage senior living in Southern California with the two principals having served over 4,000 residents in seven senior communities in the area. As an operator-run company, West Bay's owners take a hands-on approach to community management by working directly with each community on all aspects of operation.
For further information:
Patrick McGonigle
Senior Vice President
South Bay Partners, Inc.
4514 Cole Avenue, Suite 1500
Dallas, TX 752505
(214) 370-2650
www.southbayltd.net
[email protected]
Jim Biggs
Chief Executive Officer
West Bay Senior Living
1-833-WESTBAY
www.westbayseniorliving.com
[email protected]
SOURCE South Bay Partners AND West Bay Senior Living