JLL closes sale of Florida seniors housing community

DALLAS, January 22, 2020 – JLL Capital Markets announced today that it has closed the sale of Beach House Naples, a 113-unit/130-bed assisted living and memory care community in Naples, Florida.

JLL marketed the portfolio exclusively on behalf of the seller, Prevarian Senior Living, and procured the buyer, CPF Living Communities.

Beach House Naples consists of 81 studio, one-bedroom and two-bedroom assisted living units and 32 studio memory care units. Completed in 2015, the 98,418-square-foot property is situated on a more than eight-acre site at 1000 Airport-Pulling Road. The community was designed by leading senior living architect, Architectural Concepts, Inc., and interior designer, Studio|65. Beach House Naples features units appointed with upscale amenities, including granite countertops, energy-efficient stainless steel appliances, partial kitchens with small islands and private bathrooms. The community also offers a movie theater, pub, game room, bocce court, outdoor courtyards, library and bar and lounge area. Resident services include personalized care plans, transportation, room service and group fitness classes.

The JLL Seniors Housing Capital Markets investment advisory team representing the seller was led by Managing Directors Cody Tremper and 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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Prevarian Senior Living is an owner/operator of senior housing communities in the southern United States. Its leadership team has extensive experience in the healthcare real estate industry and is currently pursuing a pipeline of seniors housing development and acquisition opportunities in Texas, Florida, Oklahoma and Arizona that are aligned or partnered with local healthcare systems. Prevarian’s communities offer independent living, assisted living and memory care apartments and services. For more information, visit prevarian.com.

CPF Living Communities (“CPF Living”) is a senior housing private equity company making acquisitions out of its second fund. CPF Living makes capital investments in independent living, assisted living and memory care communities throughout The United States. Currently the firm owns 43 assets, which are all managed by CPF Living’s wholly owned management company, Grace Management.