Senior living community trades for $18M in Savannah
JLL Capital Markets closed the sale of Summer Breeze on Wilmington Island
SAVANNAH, August 17, 2021 – JLL Capital Markets announced today that it has closed the $18 million sale of Summer Breeze, a 79-unit independent living, assisted living and memory care community on Wilmington Island in Savannah, Georgia.
JLL represented the seller, private equity firm Bridge Investment Group. A 1031 investor acquired the property.
Summer Breeze offers 28 independent living, 39 assisted living and 12 memory care units. Residents can take advantage of the community’s restaurant-style full-service dining, full-service salon, community library, in-house physical, occupational and speech therapies, an activity program, scheduled transportation, and weekly housekeeping services. The community was 95% occupied at closing.
Located on Wilmington Island, an affluent suburb located approximately 10 miles southeast of downtown Savannah, Summer Breeze is adjacent to the Wilmington Island Club and the Sail Harbor Marina and Boatyard. Residents enjoy easy access to Tybee Island’s restaurants, piers and beaches, as well as other local destinations, including the Fort Pulaski National Monument, Oatland Island Wildlife Center, Wormsloe Historic Site and McQueen’s Island Historic Trail.
The JLL Capital Markets investment advisory team representing the seller was led by Managing Directors Mike Garbers and Cody Tremper and assisted by Michael Sivewright.
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 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.
For more news, videos and research resources on JLL, please visit our newsroom.
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 $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Bridge Investment Group
Bridge Seniors (a subsidiary of Bridge Investment Group) is among the largest owners of Seniors Housing units in the U.S. As of the first quarter of 2021, the Fund Manager owns 98 facilities and 11,600 units, totaling $4.5 billion in AUM.