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Jonathan Martin Of AEW Capital Management Acquires Wellington Bay Senior Housing For $100.13M

Property Image
SOLD
$100,130,000

Florida

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Senior Housing749,488 SF
Sold 01/19/2025
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Property Image
SOLD

Jonathan Martin Of AEW Capital Management Acquires Wellington Bay Senior Housing For $100.13M

Senior Housing749,488 SF
Sold 01/19/2025
the dealplayerscompscontact
Contact now

Summary

Asset Type:Senior Housing
Price Per Square Foot:$133
Total Square Footage:749,488 SF
Transaction Type:Sale

The Wellington Bay senior living facility, located at 2590 Wellington Bay Drive in Wellington, FL, was acquired for $100.13 million. The facility encompasses 749,488 square feet and consists of 224 units, set on 36.1 acres. The price per unit was $447,009 and the price per square foot was $134.

Summary of transaction details:

  • Property Type: Senior Housing
  • Transaction Amount: $100,130,000
  • Beds: 424
  • Units: 224
  • Acres: 36.1
  • Lender: Capital One
  • Buyer: Jonathan Martin - AEW Capital Management
  • Seller: Michael Arougheti - Ares Management; Greg West - ZOM Senior Living
  • Mortgage Assumption: $81,730,000

The acquisition of the facility was executed by Jonathan Martin representing AEW Capital Management. The sellers, Michael Arougheti of Ares Management and Greg West of ZOM Senior Living, entered the transaction through their partnership, Wellington Bay Propco LLC, to sell the property.

Players

Capital One
Capital One
LENDER

Details

SOLD
IMAGE: Michael Arougheti, Greg West & Jonathan Martin DATE: 01/19/2025 ADDRESS: 2590 Wellington Bay Drive MARKET: Wellington ASSET TYPE: Senior Housing ~ BEDS: 424 ~ ACRES: 36.1 BUYER: Jonathan Martin - AEW Capital Management (@AEW_Global) SELLER: Michael Arougheti - Ares Management; Greg West - ZOM Senior Living (@ZomLiving) LENDER: Capital One (@CapitalOne) SALE PRICE: $100,130,000 UNITS: 224 ~ PPU: $447,009 SF: 749,488 ~ PPSF: $134 NOTE: AEW Capital Management acquired the Wellington Bay senior living facility in Wellington, FL, for $100.13 million from Wellington Bay Propco LLC, a partnership between Ares Management and ZOM Senior Living. The 749,488-square-foot facility, built in 2022, features 224 units and was financed with an $81.73 million mortgage assumption by the buyer.

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