New Hampshire Memory Care Asset Secures $20M in Financing
Woodbine manages the property for private equity owners.
A private equity investor has obtained a $20.3 million for Spring Village at Dover, a 50-unit, 56-bed senior housing property located in Dover, N.H. The 232/223(f) insured mortgage loan backed by the U.S. Department of Housing and Urban Development.
Spring Village at Dover is a purpose-built memory care community designed to support residents with Alzheimer’s disease and other forms of dementia. Woodbine Senior Living developed the property in 2019, which was later acquired by a private equity investor. Woodbine, a northeastern regional senior housing operator, oversees the management of Spring Village at Dover.
JLL Capital Markets, through its lending arm JLL Real Estate Capital LLC, facilitated the loan. JLL’s Seniors Housing Capital Markets team includes Senior Managing Directors Jay Wagner, Rick Swartz and Aaron Rosenzweig, and Senior Director Sam Dylag.
READ ALSO: Why Senior Housing’s Recovery Is Gaining Traction
The property features a designed environment with specialized programming. Units have wheelchair-accessible bathrooms and walk-in showers, as well as kitchenettes and individual climate controls. Some apartments also have walk-out balconies, terraces or patios.
Common-area amenities include enclosed courtyards, landscaped gardens and paved walking paths. There are sitting areas, an activity center, and a central fireplace, along with an on-site beauty salon and barber services.
Residents have access to 24/7 care from trained staff and are served three daily meals with snacks, accommodating specialized dietary needs, such as vegetarian or kosher. Exercise programs include chair yoga, a walking club, drumming and other interactive activities.
Senior housing stays strong
Senior housing rental fundamentals are generally positive with occupancy increasing at a consistent rate of about 50 basis points per quarter for more than two years as of the first quarter of 2026, according to NIC data. That pace means that industry-wide occupancy will push past 90 percent later this year.
At the same time, new units under construction dropped to the lowest level since 2012, the same source reports. Inventory growth year-over-year hit a record low of 0.4 percent during the first quarter of 2026, so new supply is unlikely to accelerate in the near term.
Many lenders are still interested in senior housing assets, though banks are less active in the sector these days.
The Marisol, a planned 214-unit assisted living and memory care community in Huntington Beach, Calif., obtained $252.1 million in construction financing in May. California Public Finance Authority issued the fixed- and floating-rate financing, structured into Series A senior bonds and subordinate Series B and C bonds.
