JLL Capital Markets announced that it has closed the $18 million sale of Summer Breeze, a 79-unit independent living, assisted living and memory care community on Wilmington Island in Savannah, Georgia.
JLL represented the seller, private equity firm Bridge Investment Group. A 1031 investor acquired the property.
Summer Breeze offers 28 independent living, 39 assisted living and 12 memory care units. Residents can take advantage of the community’s restaurant-style full-service dining, full-service salon, community library, in-house physical, occupational and speech therapies, an activity program, scheduled transportation, and weekly housekeeping services. The community was 95 percent occupied at closing.
Located on Wilmington Island, an affluent suburb located approximately 10 miles southeast of downtown Savannah, Summer Breeze is adjacent to the Wilmington Island Club and the Sail Harbor Marina and Boatyard. Residents enjoy easy access to Tybee Island’s restaurants, piers and beaches, as well as other local destinations, including the Fort Pulaski National Monument, Oatland Island Wildlife Center, Wormsloe Historic Site and McQueen’s Island Historic Trail.
The JLL Capital Markets investment advisory team representing the seller was led by Managing Directors Mike Garbers and Cody Tremper and assisted by Michael Sivewright.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.