WILDWOOD, TOWN & COUNTRY and KANSAS CITY, Mo. — JLL Capital Markets has arranged the sale of three seniors housing communities in Wildwood, Town & Country and the Burlington Creek area of Kansas City.
The buyer was a joint venture between Artemis Real Estate Partners, Scarp Ridge Capital Partners and Arrow Senior Living. The seller and price were not disclosed.
JLL represented the seller and procured the buyer spearheaded by Scarp Ridge and capitalized by Artemis. Arrow Senior Living is taking over operations of the three communities. The acquisition is the first for the joint venture.
The properties in Wildwood and Town & Country are in near-western suburbs of St. Louis with strong demographics and residential growth, according to JLL. The locations are highly visible and close to nearby amenities, providing convenient access. Burlington Creek is located approximately 15 minutes from the new international airport and 30 minutes from downtown Kansas City in the path of growth for the region.
The portfolio comprises three Class A communities totaling 252 units of private pay assisted living and memory care with comprehensive amenities. The properties were built between 2016 and 2018.
Jay Wagner, Rick Swartz and Jim Dooley led the JLL team.