JLL Capital Markets Completes Sale Of, Buyer Financing For Wellington Senior Living Facility
Alamar Senior Living offers 105 assisted living and 29 memory care units that are 96% occupied.
Alamar Senior Living offers 105 assisted living and 29 memory care units that are 96% occupied.
The financing is reportedly the largest HUD loan issued in Florida, as well as the largest multifamily loan approved by HUD’s Southeast regional office and the biggest HUD transaction completed by Dwight Capital.
Read on for the most popular news headlines this past week on CRE-sources.
JLL represented the borrower in securing the three-year loan through S3 Capital.
At approximately $90,000 per unit, the site’s per-unit pricing is the highest ever paid for a South Miami development site.
The building, which dropped to a low of 62% leased during the pandemic, now stands at 97% occupied with a diversified tenant roster comprising 43 tenants in 15 distinct industries.
The property is currently improved with the Aventura Offices and Medical Center, a two-story office and medical office building totaling about 37,000 square feet.
To qualify, investors must invest $800,000 in capital from a lawful source of funds into the project.
The two-story property sold for $510 per square foot.
Read on for the most popular news headlines this past week on CRE-sources.
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