$48 million refinancing arranged by JLL for two tri-state senior housing communities

 

 

Clarkstown, NY JLL Capital Markets arranged a $48 million refinancing for two Class A senior housing communities: The Chelsea at New City in New York, and The Chelsea at Washington Township in New Jersey.

JLL’s senior housing debt advisory team worked on behalf of the borrower, Bain Capital Real Estate and Capitol Seniors Housing, to place the three-year, floating-rate loan with a large regional bank.

The Chelsea at New City was built in 2021 and consists of 80 units of assisted living, memory care and respite care. On-site amenities include restaurant-inspired meals, beauty/barber salon, sports lounge, health and wellness programs, computer lab, movie theater, and transportation services. The property is located at 269 North Main St. in Rockland County, 18 miles north of Manhattan.

Completed in 2023, The Chelsea at Washington Township consists of 85 units offering assisted living and memory care. 

Residents have access to a similar amenity suite as The Chelsea at New City. The five-acre site is located at 620 Pascack Rd. in Bergen County, 11 miles northwest of Manhattan.