$96.5M refinancing arranged for Arizona seniors housing portfolio

SEATTLE, Sept. 23, 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 seniors 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

Assisted living: 7311 E Oasis St, Mesa, AZ 85207

Chaparral Winds:

Independent living: 16617 N West Point Pkwy., Surprise, AZ

Assisted living: 16623 N West Point Pkwy., Surprise, AZ

Desert Winds:

Independent living: 20554 N. 101st Ave, Peoria, AZ

Assisted living: 20545 N. Lake Pleasant Rd., Peoria, AZ

Sedona Winds:

Independent living: 405 Jacks Canyon Rd., Sedona, AZ

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 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 sales and 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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The Hampton Group, Inc. is a Scottsdale, Arizona-based development corporation formed in 1998. The principals and senior officers of the firm have been active in Arizona real estate development since 1978. Its primary focus is on building, owning and managing income properties throughout Arizona. The Hampton Group currently owns, controls, and manages projects that include; office buildings, multi-family projects, senior living communities and master planned projects.

One of the most respected leaders in its field, New York City-based Douglaston Development has a record of success across a wide range of development types, including mixed-use, high-rise luxury rentals and condominiums, affordable housing, senior housing, and other asset classes.