Thursday, October 31, 2013

Sale of independent living community in Middletown, NJ closed by HFF


Regal Pointe, 1800 Highway 35 South, Middletown, NJ

DALLAS, TX – HFF announced today that it has closed the sale of Regal Pointe, a 128-unit, independent living community in Middletown, New Jersey.

Ryan Maconachy
HFF marketed the property on behalf of Middletown Senior Housing LLC, which was a joint venture among affiliates of Equity Resource Investments, LLC of Cambridge, Massachusetts; Beacon Communities LLC of Boston, Massachusetts; and Lincoln Street Capital LLC of Rockland, Massachusetts.

 An affiliate of The Carlyle Group, based in Washington, D.C., purchased the property, which was offered free and clear of existing debt.  Equity for the investment will come from Carlyle Realty Partners VI L.P., a $2.25 billion U.S. real estate investment fund.

Regal Pointe, which has been renamed Arbor Terrace at Middletown, is located at 1800 Highway 35 South along Monmouth County’s main traffic artery. 

Situated on 6.24 acres, the property features studio and one-bedroom units and recently underwent extensive renovations including an overhaul of residential units, main common areas and the kitchen.  Resident services include three meals-per-day, housekeeping, transportation and on-site third-party home health care and physical/occupational therapy.

Chad Lavender
The Carlyle Group intends to convert a portion of the existing units to assisted living and memory care to provide the current and future residents with several levels of care.  The Arbor Company has been selected to operate the community going forward.

The HFF team representing the seller was led by managing director Ryan Maconachy and director Chad Lavender.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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