Financings
JLL Capital Markets secures $18.7M for Minnesota community
JLL Capital Markets announced it secured $18.7 million in HUD funding for Elk River Senior Living in Elk River, Minnesota.
According to a press release, the financing consolidates five debt obligations that were part of the project’s construction.
The community was built in 2018 and is located within a residential and commercial neighborhood.
Transactions
Blueprint sells Atlanta senior housing community
Blueprint was contracted in the sale of a 37-unit assisted living and memory care community in a submarket of Atlanta, Georgia.
According to a press release, Blueprint leveraged its experience in selling a similar portfolio in 2023, and advised the client to choose “ a repeat buyer with a demonstrated history of execution certainty.”
The release adds the deal closed on time and at the originally agreed upon price.
Blueprint sells Class A West Palm Beach community
Blueprint announced it was engaged by a national developer and investor to sell a Class A assisted living and memory care community in West Palm Beach, Florida.
The 110-unit community opened in 2019 and reportedly never stabilized, but did see “positive momentum” in 2022 and 2023, according to a press release. The community was sold by the owner to “de-lever and conserve liquidity” within the fund that owned the community.
The release states the seller opted to move forward with a “trusted repeat counterparty” in Capital Senior Ventures.
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