JLL Provides $10.6M Refinancing for Countryside Living in Queen Creek, Arizona

QUEEN CREEK, Ariz. — JLL Capital Markets has provided a $10.6 million refinancing for Countryside Living in Queen Creek, approximately 35 miles southeast of downtown Phoenix.

Opened in 2020, the property features 40 units and 42 beds of assisted living and memory care on 2.5 acres. The one- and two-bedroom units range from 344 to 515 square feet.

The property is just a few miles from Banner Ironwood Medical Center, The Links Queen Creek Golf Course and Ocotillo Trails Marketplace. The 75-plus population within a five-mile radius of the community is expected to increase 4.34 percent per year through 2026, outpacing the national growth rate by 20 basis points. In addition, median household incomes within the same radius are significantly greater than the national levels for each cohort, and the median housing value within a one-mile radius is over 38 percent greater than the national median. Country Living benefits from these demographics as the only senior living facility in Queen Creek with their nearest competitor roughly 10 miles away.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Brad Miner, Director Alanna Ellis, Vice President Martin Mbeteni and Analyst Zach Brantley.

JLL worked on behalf of the borrower, a venture between American Care Concepts and private investors, to originate the 10-year, fixed-rate Fannie Mae loan. JLL Real Estate Capital will service the loan.