THE VILLAGES and WINTER PARK, Fla. — Titan Development has sold a portfolio of three seniors housing communities located in The Villages and Winter Park. The properties included in the portfolio — which totals 416 units — are Watercrest Buena Vista, Watercrest Spanish Springs and Watercrest Winter Park. JLL Capital Markets brokered the sale on behalf of Titan. AEW Capital Management acquired the portfolio for an undisclosed price.
Watercrest Buena Vista and Watercrest Spanish Springs are located in The Villages, a master-planned community roughly 45 miles northwest of Orlando. Built in 2018, Watercrest Buena Vista features 224 residences, with 118 independent living, 74 assisted living and 32 memory care units. Amenities at the community include underground parking, a heated pool, fitness center, salon, media room, bistro and bar and a golf cart charging station.
Watercrest Spanish Springs, which was opened in 2016, comprises 86 assisted living and memory care units. Amenities at the property include restaurant-style dining, gathering areas, salon services and wellness and exercise programs.
Located in Winter Park, Watercrest Winter Park is an assisted living and memory community. The property, which was built in 2019, totals 106 units.
AEW Capital Management will retain the current, third-party operator of the properties, Watercrest Senior Living.
JLL is arranging acquisition financing for two of the properties on behalf of the buyer.