ARLINGTON and PLANO, Texas — JLL Capital Markets has arranged the sale of an active adult portfolio consisting of two newly built, age-restricted properties totaling 360 units located in the Dallas-Fort Worth MSA in Texas.
JLL represented the seller, Kompass Kapital Management. Capitol Seniors Housing acquired the portfolio for an undisclosed price.
The portfolio consists of The Orchards at Arlington Heights in Arlington and The Orchards at Market Plaza in Plano. The Orchards at Arlington Heights totals 256,611 square feet. The Orchards at Market Plaza totals 257,102 square feet. Each property consists of 180 units with one- and two-bedroom options.
The JLL Capital Markets investment advisory team included Cody Tremper and Mike Garbers.
According to JLL, active adult properties continue to be one of the most highly sought-after asset types in the marketplace today. Favorable demographic trends, low resident turnover, proven rent growth, all combined with a robust single-family housing market, has elevated absorption rates across the country.