JLL Represents BIG in Seniors Housing Sale
Earlier this week, we covered private equity firm Bridge Investment Group’s (BIG) sale of its 79-unit senior living community in Savannah, Georgia to a 1031 investor. But some additional details came out that we can reveal now. The JLL Capital Markets investment advisory team including Mike Garbers, Cody Tremper and Michael Sivewright, represented BIG in the deal. Located on Wilmington Island, an affluent suburb located about 10 miles southeast of downtown Savannah, the 1998-era community features 28 independent living, 39 assisted living and 12 memory care units. It offers restaurant-style full-service dining, a full-service salon, community library, and... Read More »
JLL Facilitates Seniors Housing Sale in Georgia
Private equity firm Bridge Investment Group (BIG) sold its 79-unit senior living community in Savannah, Georgia to a 1031 investor. The JLL Capital Markets investment advisory team including Mike Garbers, Cody Tremper and Michael Sivewright, represented BIG in the deal. Located on Wilmington Island, an affluent suburb located about 10 miles southeast of downtown Savannah, the community features 28 independent living, 39 assisted living and 12 memory care units. It offers restaurant-style full-service dining, a full-service salon, community library, and in-house physical, occupational and speech therapies. Occupancy was a very strong 95% at closing. We don’t see that too often these... Read More »
JLL Sells Oregon Assisted Living Community
Mike Garbers and Cody Tremper of JLL successfully sold an 85-unit assisted living community in Portland, Oregon. The seller and buyer were not disclosed, but the community has an almost entirely Medicaid census. It was built in 2005 with 81 private rooms and four semi-private rooms. Occupancy was in the high-90s in the fall of 2019, but has since dropped to about 88%. Many operators would love to have their communities that full. But, operations were close to breakeven, so there is some room for improvement, clearly. The property was subject to a ground lease controlled by a local family. Read More »
JLL Represents Healthpeak in Two More Divestments
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... Read More »Schedule a demo
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