The team at JLL Capital Markets refinanced a couple of seniors housing properties in the Southeast, working with a debt fund in both transactions. The first, and largest, deal saw a five-year $57.5 million loan arranged for Windsor at Celebration, a 239-unit, luxury seniors housing community near Orlando in Celebration, Florida. Built in 2018 by a partnership between Square Mile Capital Management and Big Rock Partners, the community features 133 independent living, 73 assisted living and 33 memory care units in a mix of studio, one- and two-bedroom suites averaging 853 square feet. JLL’s Senior Director Joel Mendes, Senior Managing Director Chris Drew and Managing Director Brian Gaswirth arranged the floating-rate, non-recourse loan.
Mr. Mendes and Managing Director Trent Niederberger also arranged a $18.5 million refinancing for Manor Lake Gainesville, an 88-unit, recently constructed, assisted living and memory care seniors housing community in Gainesville, Georgia. Manor Lake Development LLC completed the community in 2019 and quickly filled it under its own management. JLL secured a non-recourse, floating-rate loan through a debt fund, closing the transaction just 39 days after lender engagement.
