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Recently, Capital Fund participated in a loan that will support the construction of a $37 million, 73,833-square-foot building to house a Program of All-inclusive Care for the Elderly (PACE) center as well as an urgent care center for San Ysidro Health (San Ysidro) in San Diego, CA.

Turner Impact Capital (TIC), a social impact investment company helping to revitalize and stabilize neighborhoods by constructing healthcare, is developing the project as well as investing $14.5 million. Financing will also be provided through a $21.5 million loan from National Cooperative Bank (NBC) and $1.2 million from the health center. Capital Fund will purchase $3.6 million of the $21.5 million loan.  

The $37 million project includes the acquisition and redevelopment of a three-story, 73,833-square-foot building and its adjacent surface parking lot located at 404 Euclid Ave, San Diego, CA. Once completed, the ground floor will consist of a 17,000 square-foot PACE facility and a 10,000-square-foot urgent care center. The second and third floors are partially occupied by 21 tenants in month-to-month leases and who will remain in place until they choose to vacate their units. San Ysidro envisions eventually occupying 100% of the space but will offer all tenants a one-year lease at current rental rates.

San Ysidro is the second largest health center in San Diego region, with over 145,000 patients and nearly half a million patient visits per year. Eighty-eight percent of the health center’s patients identify as a racial and/or ethnic minority and 73% identify as Hispanic/Latino. Twenty percent of their population are considered seniors, and this number is projected to grow rapidly. San Ysidro is the fourth largest Federally Qualified Health Center (FQHC) PACE provider in the nation, with over 3,000 patients.

San Diego PACE, a division of San Ysidro Health, Inc., is a specialized program that provides high quality, compassionate care to adults aged 55 and older. Services are provided and coordinated by a team of geriatric specialized health care professionals who are bilingual and highly experienced in senior care. PACE is a national program that provides a comprehensive package of services to help enable elders to successfully remain in their homes. The program provides services to accommodate all aspects of the patient’s health including medical transportation, implementation of safety measures, and provision of food through meal services. PACE coordinates and provides high-quality preventive, primary, acute, and long-term care and social services for frail, community-dwelling elderly individuals, most of whom are dually eligible for Medicare and Medicaid benefits.

To learn more about Capital Fund’s loan products please contact Brandon Boyle, Senior Director of Loan Programs, at This email address is being protected from spambots. You need JavaScript enabled to view it.