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| 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.
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| 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.
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| 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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