JLL Arranges $73.6M Refinancing for Two Communities Near Cleveland

NORTH OLMSTEAD and NORTH ROYALTON, Ohio — JLL Capital Markets has arranged a $73.6 million refinancing for two newly built seniors housing communities totaling 328 units in the Cleveland suburbs of North Olmsted and North Royalton.

The properties include Vitalia North Olmsted, totaling 160 units, and Vitalia North Royalton, which offers 168 units. Both properties offer independent living, assisted living and memory care units.

JLL worked on behalf of the borrower, Omni Smart Living, to secure the three-year, floating-rate loan through a national debt fund.

Joel Mendes and Billy Lichtenstein led the JLL Capital Markets team.