BATAVIA and DEER PARK, Ill. — The Inland Real Estate Group has received $112 million in acquisition financing for the purchase of a seniors housing portfolio in metro Chicago.
Totaling 330 units, the portfolio includes Deer Park Village in Deer Park and The Landings in Batavia. The communities comprise 188 and 142 units, respectively. Both properties feature a continuum of care, with independent living, assisted living and memory care residences.
Dial Senior Living will continue to manage the properties on behalf of the new ownership.
JLL Capital Markets arranged the financing on behalf of Inland. Sam Dylag of JLL led the team that secured the financing.
With the acquisition, Inland will surpass $1 billion in senior living acquisitions, according to the company. Inland’s portfolio currently totals more than 20 senior living communities.
“In addition to the large U.S. population cohort aging into demand for senior living, we saw stabilizing operating margins and material headwinds to new supply,” says Joseph Binder, chief investment officer at Inland. “We anticipate these sector fundamentals will continue to support durable long-term performance for years to come.”