AUGUSTA, Ga., and CHARLESTON, S.C. — JLL Capital Markets has advised CR Properties and Claiborne Senior Living on the sale of The Claiborne at West Lake and secured $9 million of construction financing for The Claiborne at Brickyard Crossing.
The Claiborne at West Lake is a 100-unit assisted living and memory care community in Augusta. The community opened in late 2018 and was approaching 90 percent occupancy at the time of sale. The community was sold to Sabra Health Care REIT. Claiborne Senior Living will continue to manage the community for Sabra.
In a separate transaction, JLL arranged mezzanine financing for the development of The Claiborne at Brickyard Crossing seniors housing community in Charleston. JLL secured the loan through Locust Point Capital.
The Claiborne at Brickyard Crossing will be the 10th seniors housing community developed by CR Properties. The community will provide a continuum of care with 78 independent living units, 44 assisted living units and 20 memory care units.
CR Properties is a Hattiesburg, Mississippi-based real estate development firm. Claiborne Senior Living is a subsidiary of CR Properties and manages the company’s seniors housing communities.
The JLL Capital Markets team representing CR Properties was led by Brian Carlton and Charley Bissell.
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