INDIANOLA AND MASON CITY, IOWA — JLL Capital Markets has arranged $17.9 million in acquisition financing for Vintage Hills of Indianola and Country Meadow Place in Iowa. The assisted living and memory care communities total 118 units. Jeff Lepley and Alex Sheaffer of JLL arranged two loans on behalf of the borrower, affiliates of Jaybird Senior Living. Jaybird managed both communities prior to the acquisition. JLL arranged one loan through a regional bank, while the other utilized the HUD 232/223(f) program. The loans represent greater than 80 percent of the total purchase price.
Vintage Hills of Indianola is a 62-unit facility located in Indianola, a southern suburb of Des Moines. The building offers amenities such as a movie theater, beauty salon, spa, landscaped courtyard and community parlor. Country Meadow Place is a 56-unit property in Mason City, a city in northern Iowa. The community offers the same amenities as Vintage Hills of Indianola.