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JLL’s Capital Markets group and HJ Sims arranged $473 million in tax-exempt and taxable bond financing for the ground-up development of The James, a luxury rental, 350-bed seniors housing community in Irvine. Reportedly it’s the largest tax-exempt senior living financing of the year and the largest nonprofit single-site senior living bond issue in history.

The JLL Seniors Housing Capital Markets team worked on behalf of Harbert South Bay Partners, LAMB Properties, P3 Foundation and Momentum Senior Living to secure the 35-year financing, with HJ Sims hired as sole underwriter of the bonds. JLL also handled the land sale to the partnership.