BOSTON, Dec. 6, 2023 - JLL Capital Markets announced today that it arranged $35 million in financing for The Arbella at Bramble Hill, a to-be-built, 123-unit, active adult seniors community in Worcester, Massachusetts.
JLL worked on behalf of the borrower, UW Senior, LLC, through the developer, The United Group of Companies, to secure a construction loan from Washington Trust.
The development will consist of three elevator-serviced buildings, offering one- and two-bedroom apartments, along with a clubhouse totaling 8,500 square feet. The buildings have been strategically designed with a compact footprint, allowing for ample green space, creating a peaceful and visually appealing environment for 55+ senior residents.
The Arbella at Bramble Hill is conveniently located in Worcester, within a five-mile radius of key interstates (I-290 and I-190), the Massachusetts Turnpike and Worcester's commuter rail station, Union Station. The property's immediate area also boasts a diverse range of amenities provided through The United Group's signature SUN® program for residents to enjoy.
The expansion of the active adult population is one of the greatest demographic shifts in the history of the U.S., as individuals aged 55+ currently represent over 30% of the U.S. population. This age group is projected to increase substantially with growth estimates exceeding 12 million, creating a shortage of seniors housing. Advances in medicine and living standards have drastically improved life expectancy as well, and as a result, individuals in this age bracket are increasingly more active and independent, creating strong demand for age-restricted, active adult communities.
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.
For more news, videos and research resources, please visit JLL's newsroom..
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Jones Lang LaSalle Inc. published this content on 06 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 December 2023 13:57:20 UTC.
