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$145M in Financing Secured for Seniors Housing Portfolios in Northeast and Southeast

March 7, 2022

JLL Capital Markets announced today that it has closed $145 million in acquisition and capital improvement financing for two seniors housing portfolios. The first portfolio includes six properties throughout the Northeast, and the second comprises nine properties in the Southeast.

JLL worked on behalf of the borrowers, Sculptor Real Estate (“Sculptor”) and its operating partners, to secure two separate non-recourse loans, one for each portfolio, through national banks. Each loan was fully underwritten without a syndication requirement. Additionally, JLL represented the seller in the marketing and sale of the portfolios.

For the Northeast portfolio, which includes properties in New York, Connecticut and Maryland, Sculptor partnered with Peregrine Senior Living. Sculptor partnered with Vitality Living for the Southeast portfolio, consisting of properties in Florida, Kentucky and Alabama.

“We are excited to work with Peregrine and Vitality in executing our business plan for these properties. We believe that the residents and staff will be pleased with the improvements we will be making to each building,” said Nicole Sermier, Executive Managing Director at Sculptor. “JLL excelled in running a process for these complex financings and secured us attractive deal structures with two great lenders.”

The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Joel Mendes, Senior Managing Director Keith Largay and Associate Jason Skalko.

“It was a pleasure to work with Sculptor and their partners on these transactions,” said Mendes. “Given the scale, geographic diversity, varied capex plans and expedited time frame, all parties needed to be efficient and diligent to effectuate closings. The sponsor and lender groups performed admirably, and we look forward to their shared success with these portfolios.”

The JLL Capital Markets Investment Sales and Advisory team who represented the seller was led by Senior Managing Director Ted Flagg and Managing Director Mike Garbers.

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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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