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A charitable group that provides help to individuals within the film and TV industries has offered land to a developer in Los Angeles with plans for a brand new senior dwelling group.
The Movement Image and Tv Fund (MPTF) lately offered a 19-acre property on the storied Mulholland Drive to the California Business Funding Group for $30 million, as lately reported by L.A. Enterprise First. LCS is serving as co-developer on the challenge, and Life Care Companies will function it, Senior Housing Information has discovered.
In an interview with Senior Housing Information on Thursday, JLL Managing Director Bryan Lewitt, who represented the Movement Image and Tv Fund within the deal, mentioned the event companions might break floor on the group in 2026 forward of a 2028 opening.
“It’s an iconic property,” Lewitt instructed SHN of the longer term CCRC web site which is in shut proximity to the Movement Image and Tv Fund’s present The Wasserman Campus senior dwelling group. Lewitt added that the longer term challenge would come with a “number of villas and luxurious flats.”
Representatives for the California Business Funding Group and LCS weren’t instantly out there for touch upon the transaction and future growth.
The MPTF additionally couldn’t instantly be reached for touch upon Thursday afternoon, however an article printed by Deadline in 2022 might make clear the group’s motive in-part for promoting the parcel.
On the time, CEO Bob Beitcher mentioned the group’s “skill to exist” was in “actual jeopardy.” On the time, the group wanted to boost $10 to $12 million following impacts from the Covid-19 pandemic. With the leisure trade tormented by the extended Writers Guild of America strike, the MPTF additionally launched a “Again to Work” marketing campaign to help impacted staff. LCS has been on the transfer in 2024. The Des Moines, Iowa-based firm lately gained an public sale to buy a previously troubled New York Metropolis CCRC in December of final yr, and it manages, owns and operates over 140 senior dwelling communities nationwide.