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2004 Shipley Road

JLL Represents Seller In $45 Million Sale Of HarborChase Of Wilmington Senior Housing
SOLDSenior Housing

JLL Represents Seller In $45 Million Sale Of HarborChase Of Wilmington Senior Housing

2004 Shipley Road

$45,000,000

Building Size

Asset Type

Senior Housing

Closing

Oct 19, 2024

AI

HarborChase of Wilmington, located at 2004 Shipley Road in Wilmington, DE, is a senior housing asset consisting of 96 luxury units designed for assisted living and memory care. The property was sold for $45 million, resulting in a price per unit of $468,750.

Summary of transaction details:

  • Property Type: Senior Housing
  • Transaction Amount: $45,000,000
  • Units: 96
  • Price Per Unit: $468,750
  • Date of Sale: 10/19/2024
  • Market: Wilmington, DE

The transaction involved multiple brokers from JLL, including Aaron Rosenzweig, Blaise Fletcher, Jay Wagner, Richard Swartz, Caroline McClelland, and Sean Kirk, who represented the seller, a private equity firm, in concluding the deal.

Players

Jay Wagner

JLL

Broker

$1.5B

vol

13 deals

Broker

Wilmington Senior Housing Market Snapshot

Boundary boundary · Senior Housing · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.35%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93