JLL Capital Markets led the financing efforts for the five communities, 971-units portfolio
SEATTLE, (Sept. 25, 2024) – JLL Capital Markets announced today that it has arranged a $96.5 million refinancing for a five-property seniors housing portfolio consisting of 971 units located in the Phoenix, Mesa, Sedona and Chandler metropolitan areas of Arizona.
JLL worked on behalf of the borrower, Douglaston Development and The Hampton Group Inc., to secure the bank financing.
The portfolio, which was recently renovated between 2021 and 2024, consists of 510 independent living units, 339 assisted living units, and 122 memory care units within five communities. All of the communities are located in strong senior housing submarkets of Phoenix, Mesa, Sedona, and Chandler, where the 75+ population represents almost 20% of the population in the surrounding areas.
Individual property details are listed below:
- Canyon Winds: Independent living: 2851 N Boulder Canyon, Mesa, AZ 85207, and Assisted living: 7311 E Oasis St, Mesa, AZ 85207
- Chaparral Winds: Independent living: 16617 N West Point Pkwy., Surprise, AZ, and Assisted living: 16623 N West Point Pkwy., Surprise, AZ
- Desert Winds: Independent living: 20554 N. 101st Ave, Peoria, AZ, and Assisted living: 20545 N. Lake Pleasant Rd., Peoria, AZ
- Sedona Winds: Independent living: 405 Jacks Canyon Rd., Sedona, AZ, and Assisted living: 475 Jacks Canyon Rd., Sedona, AZ
- Ventana Winds: 405 Jacks Canyon Rd., Youngtown, AZ
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Alanna Ellis, Senior Managing Director Brad Miner and Associate Ace Sudah.
“We are delighted to have achieved this successful execution on behalf of Douglaston Development and The Hampton Group,” said Ellis. “This transaction highlights a successful implementation of change in business strategy from ownership. With a best-in-class, in-house team, ownership executed flawlessly driving significant improvement in value, which in turn created very attractive metrics for the incoming lender. JLL is thrilled to have worked closely with Douglaston and Hampton throughout this transition and process, and watching the continued success of this portfolio.”
JLL Capital Markets is a full-service global capital solutions provider for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers best-in-class solutions for clients, whether they need investment sales and advisory, debt advisory, equity advisory, or recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide and offices in nearly 50 countries.