


JLL Arranges Refinance for Texas Community
JLL Capital Markets arranged a $37.5 million refinance for Hidden Springs of McKinney, a 194-unit independent living/assisted living/memory care community in McKinney, Texas. Joel Mendes and Jason Skalko represented the borrower, a joint venture between CREC Real Estate and Madison Marquette, in securing a non-recourse, fixed-rate loan through a life insurance company. The loan came with a five-year term, with extension options. Completed in 2020, Hidden Springs of McKinney features large units and high-end finishes, with plentiful amenities like an indoor pool, fitness center and dog park. Read More »
JLL Arranges Two Refinances Through Debt Funds
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... Read More »
Private Equity Buyers Snap Up Southeast Portfolio
JLL Capital Markets’ Mike Garbers and Cody Temper recently arranged the sale of nine seniors housing communities on behalf of the seller, a large public REIT. The portfolio consists of one North Carolina and eight South Carolina properties, encompassing 558 assisted living and memory care units. The first sale, in North Carolina, involves a 52-unit assisted living and memory care community that was sold to a private equity group. The property has been closed and vacant since April due to a fire, but extensive remodeling and repairs are foreseeable so the community can undergo rebranding upon reopening. The second transaction, in South Carolina, consists of 506 units across eight... Read More »