JLL Capital Markets this week secured a $175 million refinancing for a senior housing portfolio across the US Southeast.
The portfolio comprises six properties totaling 821 units that serve multiple functions including independent living, assisted living and memory care. Five of the properties are completed and the sixth is under construction, currently in the second phase. The communities are located in markets with strong demographics and are forecasting growth of the aging population, typically a group with ages beyond 65.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Allison Holland, managing director, and Jason Skalko, associate.
According to a JLL outlook on the senior housing sector published in the spring, primary and Sun Belt markets are expected to experience a concentration of new construction as market participants grow more bullish on senior housing and care investments.