JLL Capital Markets secures $35 million financing for 123-unit development

Worcester, MA JLL Capital Markets has arranged $35 million in financing for The Arbella at Bramble Hill, a to-be-built, 123-unit, active adult seniors community.

JLL worked on behalf of the borrower, UW Senior, LLC, through the developer, The United Group of Companies, to secure a construction loan from Washington Trust.

The development will consist of three elevator-serviced buildings, offering one- and two-bedroom apartments, along with a clubhouse totaling 8,500 s/f. The buildings have been designed with a compact footprint, allowing for green space, creating an appealing environment for 55+ senior residents.

The Arbella at Bramble Hill is located within a five-mile radius of key interstates (I-290 and I-190), the Mass. Pike and the commuter rail station, Union Station. The property’s immediate area also has a diverse range of amenities provided through The United Group’s signature SUN program for residents.

The expansion of the active adult population is one of the greatest demographic shifts in the history of the U.S., as individuals aged 55+ currently represent over 30% of the U.S. population. This age group is projected to increase substantially with growth estimates exceeding 12 million, creating a shortage of seniors housing. Advances in medicine and living standards have drastically improved life expectancy as well, and as a result, individuals in this age bracket are increasingly more active and independent, creating strong demand for age-restricted, active adult communities.