Fund VII

Renaissance Village Rancho Belago

With construction complete and the community open for residency since October 2014, is Continental East Development is proud to present Renaissance Village Rancho Belago in Moreno Valley. Renaissance Village Rancho Belago is a state-of-the-art Assisted Living and Memory Care community that serves the city of Moreno Valley and greater Riverside and San Diego counties.

In October 2010, Continental East Development acquired the Real Estate Owned (REO) Moreno Valley 112 from Key Bank, continuing its track record of acquiring ideally located, undervalued real estate. The site is adjacent to the Moreno Valley Marketplace Shopping Center on Moreno Beach Drive in Moreno Valley, CA and is in close proximity to Riverside County Medical Center and Kaiser Medical Center.

Previously approved for 112 condo units, Continental East Development’s acquisition strategy was to re-entitle the 7+ acre site to develop and build a new 150 bed Senior Assisted Care facility. CED completed extensive market research and found a high demand for Memory Care within the Moreno Valley area. Subsequently, CED re-designed the project and added 36 beds of Memory Care.

In August 2012, CED obtained unanimous approval from the City of Moreno Valley planning commission to build a new world-class senior care facility. The planned project will consist of 150 Assisted and Memory Care beds. Phase I of development includes 64 Beds of Senior Assisted Living and 36 Beds of Memory Care. Phase II will include 50 additional beds of Assisted Living.

Continental East Development is very pleased to be a part of the City of Moreno Valley, and is excited to bring this beautiful campus to the community, providing world-class senior care and employment opportunities.

Project Highlights:

• Built on time and on budget
• Operated by CED subsidiary Renaissance Villages, Inc.
• Achieved +80% stabilized occupancy within 18 months of operations
• Strong partnerships and support through local city and county officials
• Extremely high levels of resident satisfaction

Site Area: +7 Acres
Phase I Assisted Care Beds: 64
Phase I Memory Care Beds: 36
Total Phase I Beds: 100

Learn More Here

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