Senior Housing Asset Near WPB Trades for $64M
Arbor Senior Living will be managing the community.
Focus Healthcare Partners has bought Mariposa, a senior housing community in Lake Worth, Fla. Ventas sold the asset for $63.8 million, and a seven-year, $48 million fixed-rate acquisition loan from Freddie Mac was involved, according to public records. JLL Capital Markets represented the seller and procured the buyer. Arbor Senior Living is the new property manager. Â
Mariposa is located at 9130 Hypoluxo Road, in Palm Beach County. Completed in 2018, the Spanish-style community is an independent, assisted living and memory care facility with 313 units. Floorplans range from studios to three-bedroom units. The independent and assisted living components comprise multiple three-story buildings arranged in an H formation, with memory care units within a single-story building.
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Property amenities include a restaurant-style dining room, outdoor heated swimming pool, movie theater, 80-seat auditorium, gym, card room, game room, a barber and beauty salon and a library. Â
Fountains Country Club, Park Ridge Golf Course, a Home Depot and the Baptist Health Bethesda Hospital West are all within 6 miles of the 22.5-acre community. The immediate area houses more than 167,000 residents aged 65 and older, according to JLL.
The JLL Capital Markets team that represented the seller included Senior Managing Directors Jay Wagner, Rick Swartz and Aaron Rosenzweig, Director Jim Dooley and Executive Managing Director Manny de Zarraga. On behalf of Focus Healthcare Partners, JLL Managing Director Allison Holland and Associate Alex Sheaffer helped as debt advisors.Â
Some 25 miles from Mariposa, in West Palm Beach, a luxury project broke ground last month. An Affiliated Development initiative, The Spruce will be a 270-unit, eight-story property in Northwood Village.
