Greystone, a national senior living advisory firm, is pleased to announce that Channing House, a not-for-profit Life Plan Community located in downtown Palo Alto, California, has successfully closed on the acquisition of 430 Forest, a boutique apartment property to expand the organization’s independent living offerings. The transaction was financed through $36,120,000 in taxable bonds issued under the CalMortgage Program and underwritten by B.C. Ziegler and Company.

Constructed in 2018, the 430 Forest property is a three-story, LEED Platinum building featuring high-end finishes and a turnkey design. The property occupies 0.52 acres and is located approximately two blocks from the existing Channing House campus—providing a seamless opportunity for integration and operational efficiency within Palo Alto’s limited land environment.

The property will be converted to serve as independent living residences, including 10 apartments ranging from 1,054 to 1,471 square feet, two townhomes measuring 2,164 square feet, and a 3,696-square-foot penthouse. These offerings expand capacity for Channing House and provide residents with additional options within the community’s established continuum of care.  

Greystone served as strategic advisor to Channing House, supporting the organization through the evaluation, financial analysis, and acquisition process. By leveraging existing assets in strong markets, Greystone helps providers expand offerings, strengthen cash flow, and enhance long-term sustainability—even in highly constrained land markets.

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