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| Rendering of The Villages student housing in The Villages, FL |
JLL’s Seniors Housing Capital Markets team represented the seller, Titan Development, in the sale of the properties to AEW Capital Management. The buyer retained the current operator, Watercrest Senior Living, as the third-party operator. JLL is also handling the acquisition financing on two of the assets for the buyer, which will close in January 2025.
Two of the properties are positioned within The Villages, the
largest age-restricted, master-planned community in the U.S., located
approximately 45 miles northwest of Orlando. The Villages is home to more than
80,000 residents over the age of 65 and has been one of the fastest growing
metros in the entire U.S. for the last decade.
Watercrest Buena Vistal at The Villages, FL
Completed in 2018, Watercrest Buena Vista offers 224 units in a three-story, Class A building. The community uses the continuum of care model offering a mix of 118 independent living, 74 assisted living and 32 memory care units to age in place. Watercrest Buena Vista also offers residents a full amenity package with underground parking, a heated pool, fitness center, salon, media room, bistro and bar and a golf cart charging station.
Watercrest Spanish Springs opened in 2016 and
consists of 86 assisted living and memory care units. The three-story property
features a variety of amenities, including restaurant-style dining, social
gathering areas, salon services, dynamic programming and activities and
wellness and exercise programs.
Watercrest Spanish Springs
The third property in the portfolio is Watercrest Winter Park, a
106-unit assisted living and memory care community located in the affluent
Orlando submarket of Winter Park. Built in 2019, the community features
high end amenities, attracting some of the strongest rents in its market.
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’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. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Contact:
Kristen Murphy
JLL Director
Public Relations
Phone: +1
617 543 4873
Email: kristen.murphy@jll.com
