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JLL Closes HUD 232/223(f) Loan for New Hampshire Memory Care Facility
JLL Capital Markets announced that through its lending arm, JLL Real Estate Capital, LLC, it closed a $20.3-million HUD 232/223(f) insured mortgage loan for Spring Village at Dover,a 50-unit / 56-bed memory care community located in Dover, NH. The financing will enable the property’s private equity ownership to continue delivering specialized dementia care services while Woodbine Senior Living, a Northeastern regional operator, maintains management.
The transaction was led by JLL’s Seniors Housing Capital Markets team, including senior managing directors Jay Wagner, Rick Swartz and Aaron Rosenzweig and senior director Sam Dylag.
“The HUD 232/223(f) program is an exceptional financing tool for memory care operators seeking long-term capital stability,” said Wagner. “This transaction demonstrates how purpose-built memory care communities can leverage the HUD program to secure competitive, sustainable financing that supports their mission of providing high-quality care.”
Spring Village at Dover is a purpose-built memory care community designed specifically to support residents with Alzheimer’s disease and other forms of dementia.
- ◦Financing
