Refinancing secured for New Mexico senior living facility
JLL Capital Markets led the financing efforts for Fairwinds Rio Rancho
SEATTLE, June 6, 2024 – JLL Capital Markets announced today that it arranged refinancing for Fairwinds Rio Rancho, a three-story, 220-unit independent living and assisted living community located in Rio Rancho, New Mexico.
JLL represented the borrower, Lytle Enterprises, and secured the five-year, fixed-rate loan through a life insurance company.
Embodying the appeal of living in a highly-amenitized community, the property features lounges, a theater, laundry facilities and outside patio areas and gardens. The property’s prime location within the Albuquerque MSA provides proximity to Route 528, Rio Rancho Center, as well as nearby public parks. Located at 920 Riverview Dr., Fairwinds Rio Rancho totals 211,213 square feet, was built in 1997 and renovated in 2019.
The JLL Capital Markets team was led by Senior Director Alanna Ellis, Senior Managing Directors Jay Wagner and Aaron Rosenzweig and Associate Alex Sheaffer.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm'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 firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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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 108,000 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 Lytle Enterprises
With a long history of leadership and having been at the forefront of the senior housing industry for over four decades, Lytle Enterprises is well-respected in the senior housing industry. Continuing to explore ways to improve the lives of their residents is a cornerstone of Lytle Enterprises. The company’s innovation led the way in the introduction of hotel style design and amenities, health and wellness programs, travel and concierge services, restaurant-style dining, and other senior-focused services that are commonplace throughout the industry today. Lytle Enterprises helped define the best in senior living and continues to influence the design and operation of retirement communities. The company is committed to the highest standards for its residents, partners, and investors. Chuck Lytle founded Lytle Enterprises and Leisure Care in 1976. Karen Lytle joined in 1981, and together they successfully led both companies. In 2003, the Lytles sold Leisure Care to the company’s chief executive, who shares their vision and commitment to excellence. Today, the companies retain a strong operational partnership − Lytle Enterprises, with Jill Ashton as President, maintains ownership of its assets, while Leisure Care provides operational management of the Lytle properties. The company’s current portfolio includes properties in Arizona, California, Idaho, Missouri, New Mexico, Oregon, and Washington.