Sale and management change
Senior Resource Group and Nuveen Real Estate have purchased The Carrington at Lincolnwood for $212.5 million, REBusinessOnline reported Nov. 12. The sale brings a new owner and operator to the 383-unit senior living community in Lincolnwood, Illinois. The report did not specify a closing date. JLL Arranges $212.5M Sale of Senior Living Community in Lincolnwood, Illinois - REBusinessOnline
JLL Capital Markets represented the selling partnership of LAMB Properties, Harbert South Bay Partners and its capital partners, the publication reported. JLL also arranged a five-year acquisition loan for the buyers through a national bank. Senior Resource Group will take over management from Momentum Senior Living; the transaction marks its entry into the Chicago market, according to JLL. JLL Arranges $212.5M Sale of Senior Living Community in Lincolnwood, Illinois - REBusinessOnline
Built in 2018, the property comprises two connected four-story buildings. Its units span three levels of care: 251 independent living, 88 assisted living and 44 secured memory care units. Amenities include an indoor pool, a movie theater, a wellness gym and indoor garage parking, REBusinessOnline reported. JLL Arranges $212.5M Sale of Senior Living Community in Lincolnwood, Illinois - REBusinessOnline