JLL Arranges Sale and Financing of 134-Unit Alamar Senior Living in Wellington, Florida for Walton Street Capital and Scarp Ridge Capital Partners

MIAMI — JLL announced July 16 that it has completed the sale of Alamar Senior Living, a 134-unit Class A assisted living and memory care community in Wellington, Florida, to Health Wave Partners. JLL also arranged the acquisition loan from Synovus Bank on behalf of the buyer.

JLL's National Seniors Housing Capital Markets team marketed the property on behalf of a partnership between Walton Street Capital Capital and Scarp Ridge Capital Partners. Health Wave Partners is retaining AgeWell Senior Living to manage the property going forward.

Property Overview

Alamar Senior Living is located at 8785 Lake Worth Road in Wellington, Florida, approximately six miles west of West Palm Beach and 30 miles northwest of Boca Raton. The community sits on an 11.75-acre site and comprises 105 assisted living units and 29 memory care units, with current occupancy reported at 96%.

Built in 2018, the property underwent a significant renovation in 2025 to reposition it as a Class A community. Amenities include chef-driven meals, multiple living rooms and sitting areas, a bistro, bar, beauty salon and barber, theater, resident garden, gym, therapy room, and billiards room. The site benefits from visibility to approximately 44,000 vehicles per day along Lake Worth Road and access to Interstate 95 and the Florida Turnpike.

Wellington is among the more affluent communities in Florida. According to JLL, the average household income within five miles of the property is $135,000, and the average net worth for residents aged 75 and older is $2 million.

About the Buyer and Seller

Health Wave Partners, based in Chicago, is a seniors housing investment platform focused on acquiring communities alongside operating partners. The firm is supported by a strategic partnership with Macquarie Asset Management. Financial terms of the acquisition were not disclosed.

Walton Street Capital is a private real estate investment firm that, since its inception in 1994, has raised over $17 billion of capital commitments from institutional investors and has acquired, financed, managed, and sold $60 billion of real estate across equity and debt strategies.

Scarp Ridge Capital Partners was founded in 2021 by Greg Rush to focus on value-add and opportunistic investing in operating-intensive real estate, with an emphasis on senior housing and hospitality. Rush brings more than 30 years of institutional real estate and capital markets experience, including prior roles at Morgan Stanley, Dune Real Estate Partners, and Cadre.

Synovus Bank provided the acquisition financing for Health Wave Partners. Financial terms of the loan were not disclosed.

JLL Capital Markets describes itself as a full-service global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries. The firm's National Seniors Housing Capital Markets team represented the seller in the transaction.

Sources

JLL Newsroom: JLL Sells and Finances 134-Unit Alamar Senior Living in Wellington