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JLL Arranges Sale, Financing for The Park at Trowbridge in Southfield, Michigan

SOUTHFIELD, Mich. — JLL Capital Markets announced today that it closed the $17 million sale and arranged $25.4 million in acquisition and renovation financing for The Park at Trowbridge, a 298-unit seniors housing community in the northern Detroit suburb of Southfield, Michigan.

JLL worked on behalf of a private investor seller to complete the sale to a regional owner-operator of multi-housing and age-restricted housing. JLL also represented the buyer in arranging the non-recourse acquisition and renovation loan from a regional bank.

The property currently operates as an independent living facility, but the physical plant and location of the asset also appeals to conventional and age-restricted apartment owners, according to JLL. As such, the deal was executed as a collaboration between JLL’s Seniors Housing and Multi-Housing Capital Markets teams.

David Gaines, Joel Mendes and Dave Macdonald led the sale transaction. Trent Niederberger and Stephen Van Leer led the financing.

The post JLL Arranges Sale, Financing for The Park at Trowbridge in Southfield, Michigan appeared first on Seniors Housing Business.

Source: Senior Housing Business

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