JLL Capital Markets arranged short-term financing for two newly built communities totaling 328 units in North Olmsted and North Royalton, Ohio. The two high-quality communities comprise independent living, assisted living and memory care units. The borrower is real estate investment group Omni Smart Living, for which JLL secured a three-year, floating-rate loan through a national debt fund. The first property is the 160-unit Vitalia North Olmsted, and the other is the 168-unit Vitalia North Royalton, both located roughly 10 to 15 minutes outside of downtown Cleveland. Joel Mendes and Billy Lichtenstein of JLL Capital Markets represented the borrower in the transaction.
