JLL successfully facilitated the recapitalization of a $725 million seniors housing portfolio, consisting of 20 assets located in various markets across the Sunbelt, Northeast and Midwest regions.
The sale was completed on behalf of Chicago Pacific Founders and Grace Management, Inc. to Ventas in an all-cash transaction. The properties were previously owned by CPF Living Fund I and will continue to be managed by Grace Management.
The portfolio includes communities in Alabama, Arizona, Florida, Illinois, Kansas,
Maine,Michigan,Nevada ,New York ,Ohio,Oklahoma,South Carolina,Tennessee,and Texas.
Leading the sale for JLL’s Seniors Housing Capital Markets team were Senior Managing Directors Jay Wagner and Rick Swartz,Diretor Jim Dooley,and Analyst Sean Kirk.Representing the seller from JLL’s M&A team,Jones Lang LaSalle Securities LLC was Senior Managing Director Ted Flagg.Wagner commented,”This transaction is one of the largest closed this year for seniors housing portfolios.It demonstrates a strong demand for larger-scale portfolios.”
