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Scarp Ridge Capital, Walton Street acquire Florida seniors housing community
Transactions - OCTOBER 25, 2024

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Scarp Ridge Capital, Walton Street acquire Florida seniors housing community

by Denise Moose

A partnership between Scarp Ridge Capital Partners and Walton Street Capital has acquired HarborChase Wellington Crossing, a 134-unit, class A senior housing community in Wellington, Fla.

JLL’s Seniors Housing Capital Markets team arranged the sale. The buyer has rebranded the community and now operates under the name Alamar Senior Living.  MidCap Financial provided the floating-rate first mortgage loan.

Completed in late 2018, HarborChase Wellington Crossing consists of 76 assisted living units and 58 memory care units. The community provides common spaces for multiple dining options and resident activity and focuses on hospitality to assisted living and memory care residents in need of licensed care. Amenities include a bistro, bar/lounge, theatre, physical therapy gym, resident garden, secured courtyards, beauty salon and game room. The buyer intends to execute a significant capital improvement plan over the next 12 months to further enhance and differentiate the

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