JLL arranges sale of two senior housing communities in CT

Darien, CT JLL Capital Markets has arranged the sale of a pair of seniors housing communities in Southern Connecticut. The Residence at Selleck’s Woods is located in Darien and The Residence at Summer St. is located in Stamford.

JLL’s seniors housing investment sales and advisory team represented the seller, Virtus Real Estate Capital and LCB Senior Living. Harrison Street Asset Management purchased the assets and LCB will continue to manage both communities.

The Residence at Selleck’s Woods is a two-story building with 102 units of independent living, assisted living and memory care. The community offers residents upscale amenities, including a private theatre, salon, billiards room, curated library, versatile activity space and restaurant-style dining rooms. The property is situated on a 3.97-acre site in Fairfield County and is visible to cars daily on I-95.

The Residence at Summer Street features 104 units across the spectrum of care – independent living, assisted living and memory care. The five-story community offers an array of amenities, including a bistro, library, country kitchen and pub, salon, fitness center, spa, restaurant-style dining rooms and a pet-friendly environment. The Residence at Summer Street is an infill, mid-rise building north of downtown about 34 miles from NYC.

The JLL seniors housing investment sales and advisory team representing the seller was led by senior managing directors Jay Wagner, Rick Swartz and Aaron Rosenzweig and senior director Jim Dooley.

“Sellecks Woods and Summer Street are two of LCB’s most exceptional communities in one of the strongest submarkets in the country that enjoy the outstanding demographics found throughout Fairfield County,” said Dooley. “The communities have impressive, stabilized performance and allow for continued upside from a variety of levers that LCB and Harrison Street Asset Management can pull in their partnership.” 

Wagner said, “Our team’s highly valued relationship with LCB has been a tremendous partnership for over a decade and we’re thrilled to have transacted on this trophy assignment with them and their partners at Virtus.”