HOUSTON, TX - JLL Capital Markets announced today that it has closed the sale of Parkview on Hollybrook, a 189-unit senior living community in Longview, Texas.
JLL marketed the property exclusively on behalf of the seller, an Austin-based private equity group. A joint venture between MedCore Partners and The National Realty Group (TNRG) purchased the asset for an undisclosed amount. The community will be managed by Integral Senior Living (ISL) of Carlsbad, California.
Parkview on Hollybrook is located at 601 Hollybrook Drive adjacent to Longview Regional Medical Center and near multiple retail and dining amenities along Loop 281. The community includes a mix of 126 independent living, 41 assisted living and 22 memory care residences. In addition to the ample outdoor spaces, amenities include an outdoor pool and patio area, bocce ball court, a bistro/bar venue, computer lounge, fitness center, library and theater. New ownership also intends to develop independent living cottages on the adjacent land site, which are expected to deliver in early 2021.
The JLL Seniors Housing Capital Markets investment advisory team representing the seller included Managing Directors Charley Bissell, Cody Tremper and Mike Garbers and Directors Zach Rigby and Jason Skalko.
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 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.
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About JLL: JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com