Summerplace at Westgate Announces Current Status of the Sacramento Assisted Living Facility

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Summerplace at Westgate, LLC announced today that construction equipment is being moved onto the project site.

Summerplace at Westgate, LLC announced today that construction equipment is being moved onto the project site. Our construction trailer is being installed on the site. Site grading is expected to commence during the week of October 24th 2016.

Site grading is in preparation of pouring the foundation pad, scheduled to be in place by January 2017, along with the commencement of under-ground utility trenching.

Summerplace at Westgate anticipates having this project fully financed, permitted, and under construction in the first quarter of 2017. The first installment of the construction bond has been paid, securing all development entitlements.

“We are pleased to be making substantial progress as we proceed with construction. Summerplace at Westgate is a premier property, and we are excited with opportunity to service senior citizens as their living needs change,” said Neil Huettenhain, the President of Woodcrest Construction Management Inc.

When completed, Meridian Senior Living will be the manager and operator of the senior living facility. “As a national operator of Senior Housing projects, we're very excited about the opportunity to manage the Summerplace at Westgate facility,“ said Bob Sweet president of Meridian Senior Living, and added that, “we think this facility is a great fit for this location, and expect a successful launch when built,” Mr. Sweet further stated: “Meridian prides itself on providing the resources, experience and individual attention to help make aging related decisions easier.”

Summerplace at Westgate is also pleased to announce that it has entered into an agreement for MCC Overseas, Ltd. to provide the build-out components for the project.

About Summerplace at Westgate:
Summerplace at Westgate is a planned 170 Unit, 205 Bed Assisted Living & Memory Care Facility located in West Sacramento, California, CA. The facility operations will include assisted living, memory care, inpatient and outpatient rehabilitation services and an in house pharmacy. There will be a variety of amenities offered for residents and guests including but not limited to restaurant style dining, a bistro café, theater room, various activities areas and exterior courtyards and walking paths

About Meridian Senior Living:
Meridian Senior Living owns and operates senior housing communities across the United States and provides outstanding care and services for its residents in comfortable home-like settings within its communities. With more than 10,000 beds, Meridian is currently the fifth largest Assisted Living provider and third largest Memory Care provider in the United States. “Exceptional accommodations, within your means, beyond your expectations”: Meridian Senior Living. http://www.meridiansenior.com/

About MCC Overseas:
MCC Overseas Ltd (MCCO) is an international engineering service company wholly owned by Metallurgical Corporation of China Ltd (MCC), a Fortune 500 company. MCC is China’s leading multidisciplinary multinational company well known for its experience and strength in EPC contracting, resource development, equipment manufacturing, real estate development and papermaking.

http://mccoverseas.com/

Important Cautions Regarding Forward-Looking Statements
Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of federal law. Such statements can be identified by the use of forward-looking terminology, such as "believes," "expects," "plans," "intends," "anticipates" and variations of such words or similar expressions, but their absence does not mean that the statement is not forward-looking. Such forward-looking statements reflect management's beliefs and assumptions and are based upon information currently available to management and involve known and unknown risks, results, performance or achievements of Summerplace at Westgate, which may differ materially from those expressed or implied in such statements. Such statements include, but are not limited to: adverse economic conditions and the impact on the real estate industry, including healthcare real estate; our ability to finance our assets on terms that are acceptable to us, if at all, including our ability to complete securitization financing transactions; understanding of our competition and our ability to compete effectively; market and industry trends; our financing needs; and, our expected leverage and the effects of our current strategies. Our ability to predict results or the actual effect of plans or strategies is inherently uncertain, particularly given the economic environment. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, our actual results and performance could differ materially from those set forth in the forward-looking statements. These forward-looking statements involve risks, uncertainties and other factors that may cause our actual results in future periods to differ materially from those forward-looking statement. Except where required by law, Summerplace at Westgate undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.t. The BB&T financing has been arranged through a State of California Development Agency Bond that has recently received initial approval. Final loan documents are currently scheduled to close before the end of 2016. As a result, Summerplace at Westgate anticipates having this project fully financed, permitted, and under construction in the first quarter of 2017. The first installment of the construction bond has been paid, securing all development entitlements.

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Neil Huettenhain
Woodcrest Development, LLC
+1 9492758761
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