Livingston Street Capital purchases seniors housing property
JLL completed the sale of King City Senior Village near Portland, Oregon
PORTLAND, October 5, 2020 – JLL Capital Markets announced today that it has completed the property sale of the King City Senior Village seniors housing property located at 11777 S.W. Queen Elizabeth St. in King City, Oregon.
King City Senior Village is a 114-unit independent living property consisting of two living options: duplex cottages and traditional apartment homes. The community was built in 1986 and underwent significant renovations in 2018. Community amenities include multiple dining options, recreational activities, beautiful gardens, scheduled scenic off-site activities, an on-site beauty and barber shop, lounge, library and game room and 24-hour security.
The JLL Capital Markets team representing the seller includes Managing Directors Cody Tremper and Mike Garbers and Associate Dean Ferris.
“The property is standalone independent living and did not have any COVID-19 cases throughout the marketing process,” said Tremper. “The community actually increased occupancy throughout the sales process despite adverse market conditions. The buyer remained diligent in sourcing multiple banking relationships and relied on a longstanding existing relationship to fund the transaction.”
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.
Prior to the pandemic, the seniors housing sector was positioned for disruption. Now, initiatives around technology innovation and enhancements to infrastructure and design are being accelerated to ensure the well-being and safety for residents during these unprecedented times. Check out JLL’s Seniors Housing & Care Investor Survey and Trends Outlook for more information.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Focus Healthcare Partners LLC
Focus Healthcare Partners LLC 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.
About Livingston Street Capital, LLC
Livingston Street Capital, LLC is a fully integrated boutique real estate-focused investment firm led by a highly experienced team of professionals. Collectively their leadership team has led more than $20 billion of commercial real estate transactions and brings more than 75 years of experience to each investment.