Mike Sales Of Nuveen Real Estate And Michael Grust Of Senior Resource Group Buy Senior Housing For $212.5M

The Carrington at Lincolnwood is a senior housing asset located at 3501 Northeast Parkway in Lincolnwood, IL, encompassing an area of 13 acres. The property features 383 units, with a price per unit of $554,830. The transaction concluded at a sale price of $212,500,000.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $212,500,000
• Units: 383
• Buyer: Mike Sales - Nuveen Real Estate; Michael Grust - Senior Resource Group
• Seller: LAMB Properties; Travis Pritchett - Harbert Management Corp
• Broker: JLL Capital Markets
• Market: Lincolnwood, IL
• Acres: 13
• PPU: $554,830

JLL Capital Markets represented the transaction, facilitating the sale and securing a five-year acquisition loan through a national bank. Senior Resource Group will assume management responsibilities and establish its presence in the Chicago market.