Missouri senior living portfolio acquired by partnership involving Scarp Ridge and Arrow Senior Living

BOSTON, Feb. 14, 2024 – JLL Capital Markets announced that it arranged the sale of three seniors housing communities across the St Louis and Kansas City MSA’s. The communities are located in Wildwood, MO, Town & Country, MO and the Burlington Creek area of Kansas City, MO, and were acquired as a three-property portfolio by a venture of Artemis Real Estate Partners, Scarp Ridge Capital Partners and Arrow Senior Living.

JLL represented the seller and procured the buyer spearheaded by Scarp Ridge and capitalized by Artemis. Arrow Senior Living is taking over operations of the three communities.

The properties in Wildwood and Town & Country are in near-western suburbs of St Louis with strong demographics and residential growth. The locations are highly visible and close to nearby amenities, providing convenient access. Burlington Creek is located approximately 15 minutes from the new international airport and 30 minutes from downtown Kansas City in the path of growth for the region.

The portfolio is comprised of three, Class A communities with 252 units of private pay assisted living (AL) and memory care (MC) with comprehensive amenities. The properties were built between 2016 and 2018 and each offer attractive finishes, top-tier construction quality and strong curb appeal. The properties in Wildwood and Town & Country are each three-story AL/MC communities with 81 and 86 units, respectively, located immediately off local highways. Burlington Creek is a two-story, 85-unit AL/MC community on a nearly six-acre bucolic site with well-positioned common spaces for its residents. Across the portfolio, communities offer restaurant-style dining rooms, outdoor courtyards, fitness and rehab spaces, theatres and beauty salons.

The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Directors Jay Wagner and Rick Swartz and Director Jim Dooley.

“Our team is grateful to our client for the opportunity to advise on another strategic disposition for them and was impressed with the speed and organization of Artemis, Scarp Ridge, and Arrow during the transaction,” said Dooley.

“We are very excited about the opportunity to partner with both Artemis and Arrow and invest in three highly attractive, Class A assets in strong submarkets, and bring our combined capabilities to benefit the residents, families and staff of each of these communities,” said Rick Shamberg, Managing Director for Scarp Ridge.

The acquisition is the first for the joint venture and brought together three groups with long standing relationships and deep expertise in executing value-add investment and operations of senior living communities in the Midwest and across the U.S.

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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Artemis Real Estate Partners is an investment manager based in metropolitan Washington, DC, with offices in New York City, Los Angeles and Atlanta. Artemis has raised $9+ billion of capital across core, core plus, value-add and opportunistic strategies. The firm makes equity and debt investments in real estate across the United States, with a focus on multifamily, industrial, office, retail, hospitality, senior housing, and medical office. Artemis specializes in joint venture partnerships and direct investments.

Scarp Ridge Capital Partners is a private real estate investment firm, based in New York City focused on distressed, opportunistic and value-add investing across the United States with a focus on senior living and hospitality.

Missouri-based Arrow Senior Living manages a portfolio of communities offering independent living, assisted living, and memory care throughout the Midwest. Our communities are designed to cater to the diverse needs of our residents, ensuring they receive personalized quality care, access to world-class amenities, and engaging activities that enhance overall well-being and promote life-long learning.