JLL Finances Santa Rosa Development
The JLL Capital Markets team led by Director Bercut Smith secured construction financing for a 92-unit seniors housing development in Santa Rosa, California. A joint venture between Blue Mountain Enterprises and Calson Management is responsible for the project, which will feature 66 assisted living units (comprising studio, one- and two-bedroom options) and 26 private memory care units. The memory care units will contain separate dining and gathering areas, with a large, landscaped courtyard being the connector in the center of the building. Other community amenities include activity areas, rooftop garden, café, movie theater, library and... Read More »
JLL Handles Latest Healthpeak Sale
Mike Garbers and Cody Tremper of JLL represented Healthpeak Properties in the sale of an assisted living/memory care community in Kenmore, Washington. This one-off transaction included an 85-unit community that had been underperforming since the end of 2018. The property was also in need of some capex. Sunrise Senior Living previously operated the community, but day-to-day management will be taken over by the new owner, Pacifica Properties, which paid $4.5 million, or $52,900 per unit. There was no cap rate on the deal. The JLL team was also involved in the sale of two seniors housing communities in Florida. Previously owned by Prime... Read More »
JLL Handles Healthpeak’s SHOP Sale
Mike Garbers and Cody Tremper of JLL Capital Markets announced their involvement in Healthpeak Properties’ sale of 16 of its SHOP communities operated by several provider partners. White Oak Healthcare REIT joint ventured with Discovery Senior Living to acquire the portfolio for $230 million, or roughly $128,000 per unit. However, Healthpeak didn’t exit entirely, providing the buyer with $150 million in financing to fund the deal. With 14 locations in Texas and one each in North Carolina and New Mexico, the communities totaled around 1,800 units of assisted living and independent living, split between majority- or all-IL... Read More »
JLL Sells A 55+ Community in Minnesota
The JLL Capital Markets team of Dan Linnell, Mox Gunderson, Josh Talberg and Adam Haydon represented the seller of a 66-unit active adult community near Minneapolis, Minnesota, with another JLL team financing the deal too. Set on 12.5 acres in the town of Andover, this community consists of one-, two- and three-bedroom apartments, which are newly constructed with screened-in balconies, in-unit washer and dryers and full kitchens. Amenities include continental breakfast every morning, social and recreational programs, a bistro, salon, fitness center, underground parking and car wash station, pickleball court, outdoor patio with grills and fireplaces and an outdoor... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
