JLL’s Senior Housing Team arranges Phoenix-area seniors housing portfolio sale

JLL’s Seniors Housing team arranged the sale and the Freddie Mac financing for the two Class A communities

PHOENIX, (Jan. 26, 2026) –  JLL Capital Markets announced today that it has completed the sale and financing of a two-property seniors housing portfolio comprising The Watermark at Morrison Ranch in Gilbert, Arizona, and Acoya Mesa in Mesa, Arizona. Both communities are operating with stabilized performance in place.

JLL’s Seniors Housing Capital Markets team marketed the portfolio on behalf of the seller, PGIM. PGIM owned one of the assets, Acoya Mesa, in a joint venture with the asset’s original developer, Ryan Companies US, Inc. JLL also worked on behalf of the buyer to secure a 10-year acquisition loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo Lender for seniors housing loans.

The Watermark at Morrison Ranch is a two-story building with 115 assisted living and memory care units. Built in 2019, the property offers Class A amenities, including three distinctive dining venues, a fitness center, a technology center, a library, and a full-service salon. The 4.6-acre site is located at 3333 E Morrison Ranch Pkwy, in a densely populated, affluent area of the Phoenix MSA, within a high-end master-planned community.

Acoya Mesa was developed and built by Ryan Companies in 2019 and consists of a three-story building offering 51 units of independent living, 91 units of assisted living and 28 units of memory care. Common areas include a café/bistro/pub, restaurant-style dining, a movie theatre, a salon, a game room, an activities room, and a library. Acoya Mesa is positioned on 7.97 acres at 6502 E Brown Rd, approximately 20 minutes from The Watermark at Morrison Ranch. The property is located in Mesa, a southeast suburb of Phoenix, offering a high quality of life and a variety of amenities.