WELLINGTON, Fla. — JLL Capital Markets has brokered the sale of HarborChase Wellington Crossing, a 134-unit, Class A seniors housing community in Wellington, located about 15 miles southwest of West Palm Beach. A partnership between Scarp Ridge Capital Partners and Walton Street Capital acquired the community and selected Agewell Solvere Living as the operator. The buyer has also rebranded the property, which now operates under the name Alamar Senior Living. The name of the seller was not disclosed.
Completed in late 2018, HarborChase Wellington Crossing consists of 76 assisted living units and 58 memory care units. Amenities include a bistro, bar/lounge, theater, physical therapy gym, resident garden, secured courtyards, beauty salon and game room. The community also provides elegant and abundant common spaces for multiple dining options.
The buyer intends to execute a significant capital improvement plan over the next 12 months to further enhance and differentiate the community in this growing submarket.
The community has excellent frontage and visibility along Lake Worth Road and is just west of the Florida Turnpike, according to JLL
MidCap Financial, a leading commercial finance company focused on middle market transactions, provided the floating-rate first mortgage loan.