JLL and HJ Sims are teaming up on a major financing deal for a senior housing developer and operator. The two firms have arranged approximately $239.7 million in tax-exempt and taxable bond financing on behalf of Integrated Senior Foundation. The company will use the funds to acquire the Ativo Portfolio. Ativo includes one senior living facility in Arizona and development of two properties in Arizona and California.
The portfolio, which includes two ground-up development communities and one acquisition consists of Ativo of Sundance, located in the fast-growing city of Buckeye, AZ; Ativo of Yuma, in Yuma, AZ; and Ativo of Santa Clarita, located within the Sand Canyon Plaza master-planned community in Santa Clarita, CA.
JLL’s Seniors Housing Capital Markets team, in collaboration with the bond underwriting team of HJ Sims and JLL Securities, secured the fixed-rate financing with a final maturity of 40 years. The financing consisted of $218.3 mil of publicly offered tax-exempt senior series 2025A bonds, $5.9 mil of taxable senior series 2025B bonds, and $15.5 mil of tax-exempt subordinate 2025C bonds.
Due for completion in 2027, Ativo of Sundance offers a total of 207 units, including 102 independent living and 75 assisted living units and 30 memory care beds. Ativo of Yuma, built in 2021, offers 55 assisted living and 24 memory care units. Scheduled for completion in 2026, Ativo of Santa Clarita will feature 144 units comprising 51 independent living and 65 assisted living alongside 28 memory care beds.
All of the newly delivered properties will have modern amenities and services such as a gourmet kitchen providing healthy meals daily, coordinated group outings, transportation services, daily on-site life enrichment activities and 24/7 staff to care for residents. Additionally, all of the Ativo properties are located in densely populated areas with a growing seniors demand.
