JLL announced its role in a couple more Healthpeak Properties seniors housing divestments. Most notably, Mike Garbers and Cody Tremper represented PEAK in the sale of five SHOP communities that were operated by Florida-based Sonata Senior Living. All five communities are in Florida, with locations in Delray Beach (80 units), Boynton Beach (92), Boca Raton (74), Coconut Creek (94) and Vero Beach (104). There were a total of 328 assisted living, 107 memory care and nine independent living units, and the communities averaged around 20 years in age. However, the properties were well maintained, and Healthpeak Properties had invested over $13 million of capex in the past four years.
Private equity firm Fortress Investment Group paid $64 million, or $144,100 per unit, in cash and kept Sonata Senior Living as the operator. JLL is also in the process of closing acquisition debt for Fortress.
The JLL team also represented Healthpeak in the sale of a 68-unit assisted living community in Sterling, Virginia. Built in 2002, the community was purchased by a national owner/operator. No other details were disclosed.
