JLL completes $45 million sale of HarborChase of Wilmington, a 96-unit Class A seniors housing community in Wilmington, DE

  

Caroline McClelland

 BOSTON, MA –  JLL Capital Markets has completed the $45 million sale of HarborChase of Wilmington, a luxury 96-unit assisted living and memory care community in Wilmington, Delaware.

 

 JLL represented the seller, a private equity firm, in the transaction. Harbor Retirement Associates will continue to manage the community for the buyer, a publicly traded REIT.

Blaise
Fletcher

The JLL Senior Housing Capital Markets team was led by Senior Managing Directors Jay Wagner, Rick Swartz, Aaron Rosenzweig, Director Sam Dylag, Analysts Sean Kirk and Caroline McClelland. JLL Managing Director Blaise Fletcher also supported the sales team.

Originally constructed in 2018, HarborChase of Wilmington is the one of the newest seniors housing communities in the entire state of Delaware and is the newest community in its primary market by a substantial margin.

 

Jay Wagner

Located at 2004 Shipley Rd., HarborChase of Wilmington offers 64 assisted living units in one- and two-bedroom layouts and 32 memory care units. The units feature luxury finishes and are some of the largest units in the market.

 

HarborChase of Wilmington achieves market-leading rents and occupancy and is 100% private pay. It has a strong reputation in the market due to its leading hospitality program, high-quality food and beverage options, plus leading activities for residents all on top of its leading physical offerings.

Rick Swartz

There is an abundance of amenities, including three beautiful dining rooms plus the private dining area, a fitness and yoga studio, and outdoor fountains, patios, courtyards and walking trails.

 

The excellent commutability and amenities on the border of Wilmington’s more affluent residential neighborhoods provide the property with excellent visibility in the market and top-of-mind presence.

 

Aaron
 Rosenzweig

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

Sam Dylag

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

  

About JLL 

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties.

 Sean Kirk

 A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. 

Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM.

HarborChase of Wilmington, a luxury 96-unit assisted
 living and memory care community in Wilmington, DE

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

 

 

Contact:

 

Kristen Murphy

Director, Public Relations

JLL

One Post Office Square, Suite 1100

Boston, MA 02109

617-543-4873

 

Keyes/Illustrated Luxury Report: Miami-Dade County’s High-End Single-Family Sector Shines in Q3 2024

 Christina Pappas

MIAMI and PALM BEACH, FL, Oct. 28, 2024 – South Florida’s luxury residential market remained steady - despite the typical summer slowdown - during the third quarter of 2024, according to The Keyes Company and Illustrated Properties’ new Luxury Report. Miami-Dade County’s high-end single-family sector stood out among the territories covered in the report.

Across Miami-Dade, Broward, Palm Beach counties, the Treasure Coast and Southwest Florida, luxury single-family sales declined from 2,505 in the third quarter of 2023 to 2,429 in the third quarter of 2024 – a 3% decrease. The region’s condo sector had a 7.2% drop in luxury transactions, from 890 to 826. High-end condo sales that closed during the quarter did so at a slightly lower price per square foot than a year ago, as the region recorded a 2% year-over-year drop to $963.

“South Florida continues to benefit from the relocation of high-net-worth individuals, which helped lead to four consecutive quarters of growth,” Keyes President

Christina Pappas said. “While all streaks end at some point, numerous cities and property types maintained upward trends during the third quarter.”

Miami-Dade County’s high-end single-family sales jumped 9.8% from the third quarter of 2023 to 673 in the third quarter. The average luxury single-family price per square foot also increased year-over-year, with a 7.5% climb to $824 per square foot.

Palm Beach County stayed flat with luxury single-family sales (777 $1 million-and-up transactions) and posted modest year-over-year gains (3.8%) in high-end condo transactions. Broward County’s luxury market had a sluggish third quarter, with declines in both single-family (3.2%) and condominium (16.7%) transactions.

Mike Pappas 

Other notable findings in the third quarter luxury report include:

• The Treasure Coast’s luxury single-family (17.8%) and condominium sales (7.9%) both declined year-over-year in the third quarter.
•  
• Southwest Florida was a mixed bag in the third quarter, as the region’s high-end single-family sector recorded a 21.9% year-over-year drop in sales to 374, while its luxury condo market enjoyed a 4.7% year-over-year jump in $1 million-and-up transactions to 157.
•  
• Miami-Dade County’s average luxury single-family price per square foot rose 9.8% year-over-year to $854. The county’s average high-end condo price per square foot jumped 10.6% to $1,166.
• Coral Gables had the largest year-over-year gain (61.3%) in luxury single-family transactions for Miami-Dade County, followed by Key Biscayne (62.5%), Brickell (40%) and Coconut Grove (18.2%). Miami Beach (23.1%) and Pinecrest (23.1%) had significant year-over-year declines in high-end single-family sales.
•  
• Palm Beach County’s biggest year-over-year gainers in luxury single-family sales include Palm Beach Island (80%), West Palm Beach (67.4%) and Juno Beach (20%). Singer Island experienced a whopping 231.3% year-over-year uptick in high-end condo transactions, while the 25% year-over-year jump in Boca Raton/Delray Beach was the main driver for the countywide increase.

“South Florida’s luxury market is healthy and consistent with the seasonal buying and selling patterns we saw before the pandemic-era boom,” Keyes/Illustrated CEO Mike Pappas said. “We expect to see activity pick up considerably once the election is in the rear view, whether that occurs immediately after or at the outset of the new year.”

Contacts:

 

Eric Kalis and Daniel Benjamin,

BoardroomPR

ekalis@boardroompr.com or

 dbenjamin@boardroompr.com

954-370-8999