JLL Capital Markets closes sale and financing of Florida seniors housing community

NEW YORK, Sept. 18, 2024 – JLL Capital Markets announced today that it has completed the sale and financing of Mariposa, a 313-unit seniors housing community in Lake Worth, Palm Beach County, Florida.

JLL represented the seller, and procured the buyer, Focus Healthcare Partners. Additionally, JLL worked on behalf of Focus to secure the fixed-rate acquisition loan through Freddie Mac. The loan, which has a loan-to-value of 62%, will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo Lender for seniors housing loans. Arbor Senior Living is taking over operations of the community.

Completed in 2018, Mariposa is a Spanish-style community consisting of a three-story, “H-shaped” independent living and assisted living building as well as a single-story memory care building. The independent and assisted living facility offers residents restaurant-style dining, an outdoor heated swimming pool, a surround sound movie theatre, an 80-seat auditorium, a gym, card room, barber and beauty salon, game room and library. Mariposa is currently 95% leased and offers units ranging in size from studio to three-bedroom layouts.

The community is spread over 22.5 acres at 9130 Hypoluxo Rd., approximately 17 miles south of West Palm Beach. The community is close to a variety of retail offerings, golf courses and country clubs and the HCA Florida JFK Hospital. The immediate area surrounding Mariposa is home to more than 167,000 residents aged 65 and older.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Jay Wagner, Rick Swartz and Aaron Rosenzweig, Director Jim Dooley and Executive Managing Director Manny de Zarraga.

JLL Managing Director Allison Holland and Associate Alex Sheaffer led the debt advisory efforts on behalf of Focus Healthcare Partners.

“Mariposa is a high-quality senior community with amenities for all levels of care,” Wagner said. “We saw a tremendous amount of investor interest in the property given its appeal as well as its prime location in a heavily seniors-concentrated area of Florida.”

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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Focus Healthcare Partners LLC ("FHP" or "The Firm") is a real estate investment and asset management firm headquartered in Chicago, Illinois. The firm invests in senior housing and healthcare real estate assets on behalf of institutional and private investors.