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JLL Secures $17.9M Acquisition Loan For Iowa Assisted Living Communities

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FINANCED
$17,900,000
Jeff Lepley
Alex Sheaffer

Iowa

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MultiFamily
Financed 02/26/2024
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Property Image
FINANCED

JLL Secures $17.9M Acquisition Loan For Iowa Assisted Living Communities

604 East Hillcrest Avenue & 17396 Kingbird Ave, Mason City, IA 50401

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MultiFamily
Financed 02/26/2024
Jeff Lepley
Alex Sheaffer
the dealplayerscompscontact
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Summary

IOWA
Asset Type:MultiFamily
Transaction Type:Loan

The loan amount of $17.9 million has been secured by JLL Capital Markets for Vintage Hills of Indianola and Country Meadow Place, two assisted living and memory care communities totaling 118 units in Iowa. The properties are located at 604 East Hillcrest Avenue in Indianola and 17396 Kingbird Avenue in Mason City.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $17,900,000
  • Units: 118
  • Market: Indianola & Mason City, IA
  • Landlord: Affiliates of Jaybird Senior Living
  • Brokers: Alex Sheaffer & Jeff Lepley - JLL
  • Loan Type: Acquisition

Alex Sheaffer and Jeff Lepley from JLL were the brokers who facilitated the acquisition financing for Vintage Hills of Indianola and Country Meadow Place. These two assisted living and memory care communities serve as crucial assets in the Iowa region.

Players

Jeff Lepley
JLL
Jeff Lepley
3 deals$68.7M volume
BROKER
Alex Sheaffer
JLL
Alex Sheaffer
6 deals$936.7M volume
BROKER

Details

FINANCED
IMAGE: Alex Sheaffer & Jeff Lepley DATE: 02/26/2024 ADDRESS: 604 East Hillcrest Avenue & 17396 Kingbird Avenue MARKET: Indianola & Mason City, IA ASSET TYPE: Multifamily ~ UNITS: 118 LANDLORD: Affiliates of Jaybird Senior Living BROKERS: Alex Sheaffer & Jeff Lepley - JLL LOAN AMOUNT: $17,900,000 LOAN TYPE: Acquisition NOTE: JLL Capital Markets has secured $17.9 million in acquisition financing for Vintage Hills of Indianola and Country Meadow Place, two assisted living and memory care communities totaling 118 units in Iowa.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$17,900,000.00

Monthly NOI$119,333.33
Monthly Debt Service$113,140.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00