JLL Seniors Housing Capital Markets Team completes sale and financing for trophy asset in prized Palm Beach County
Wellington Bay is a 45-acre, luxury seniors living campus in South Florida
MIAMI, Jan. 23, 2025 – JLL Capital Markets announced today that it has closed the sale and arranged the financing for Wellington Bay, a 283-unit seniors housing community in Wellington, Florida.
JLL’s Seniors Housing Capital Markets team procured the buyer, AEW Capital Management, and secured the three-year acquisition loan through Capital One Bank on behalf of the buyer.
Wellington Bay is a world-class, full-continuum of care seniors living campus that includes a high-performing 159-unit independent living community and The Lisbet Health Center, which offers 124, Class A assisted living and memory care units. The 45-acre lakeside campus also offers the ability to expand the independent living by an additional 177 units. Residents of the community have access to a 65,000-square-foot clubhouse offering high-end amenities, including five-star quality dining, a resort-style outdoor pool, indoor pool and hot tub, putting green, bocce court, pickleball court and a variety of fitness, wellness, concierge, arts and entertainment programming. Wellington Bay is regarded as one of the finest seniors housing communities in the United States for its high-quality construction, luxury finishes and unmatched amenities.
The 45-acre campus sits at 2590 Wellington Bay Drive in Palm Beach County, approximately 16 miles west of West Palm Beach. The Palm Beach area includes some of the most prestigious communities in South Florida and is home to a deep senior population. Wellington, Florida, is known as the Equestrian Capital of the World, home to two of the world’s leading venues for equestrian excellence, attracting numerous residents and visitors globally. Wellington Florida is the ideal location for a world-class seniors living community with the Palm Beach lifestyle.
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About AEW Capital Management
For over 40 years, AEW Capital Management, L.P. (AEW) has provided real estate investment management services to investors worldwide. As one of the world’s largest real estate investment advisors, AEW and its affiliates manage $86.4 billion in private real estate equity, debt and listed securities across North America, Europe and Asia (as of September 30, 2024). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, Denver, London, Paris, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in eight European cities. For more information, please visit www.aew.com.
As of September 30, 2024. AEW includes (i) AEW Capital Management, L.P. and its subsidiaries and (ii) affiliated company AEW Europe SA and its subsidiaries. AEW Europe SA and AEW Capital Management, L.P. are commonly owned by Natixis Investment Managers and operate independently from each other. Total AEW AUM of $86.4 billion includes $40.4 billion in assets managed by AEW Europe SA and its affiliates, $5.3 billion in regulatory assets under management of AEW Capital Management, L.P., and $40.7 billion in assets for which AEW Capital Management, L.P. and its affiliates provide (i) investment management services to a fund or other vehicle that is not primarily investing in securities (e.g., real estate), (ii) non-discretionary investment advisory services (e.g., model portfolios) or (iii) fund management services that do not include providing investment advice.