JLL Arranges Sale of Preston Greens Senior Living in Lexington, Kentucky for Cedarhurst Senior Living Partnership

JLL Capital Markets has arranged the sale of Preston Greens Senior Living, a 124-unit Class A assisted living and memory care community in Lexington, Kentucky, the firm announced Aug. 11. The buyer was a partnership between an established REIT and Cedarhurst Senior Living, with JLL representing the seller and procuring the buyer.

Property Overview

Preston Greens Senior Living is located at 1825 Little Herb Way in Lexington's Hamburg area. The community opened in 2021 and spans a five-acre campus totaling 124,010 square feet. The property comprises 100 assisted living units and 24 memory care units across 124 total units, configured for 140 beds. At the time of the sale, the community was 95% occupied.

Amenities at the community include multiple dining venues, a full-service bistro and bar, fitness center, salon, therapy and massage rooms, art studio, theater, and landscaped outdoor areas featuring a courtyard, garden, dog park, and putting green.

Location and Market Fundamentals

The property's Hamburg submarket location provides proximity to Baptist Health Hamburg Hospital and walkable access to Hamburg Pavilion, a one-million-square-foot retail center anchored by Target, Costco, and other major retailers. The surrounding demographics support the asset's long-term demand profile: the 75-and-older population within a five-mile radius is projected to grow 26.6% by 2030, and average household incomes in the area exceed $108,000.

Hamburg is one of Lexington's more affluent growth corridors, and the combination of high household incomes, projected senior population growth, and proximity to a major health system strengthens the property's positioning for families and referral sources.

JLL Team and Transaction Context

The JLL Seniors Housing Capital Markets team representing the seller included Senior Managing Directors Rick Swartz, Jay Wagner, and Aaron Rosenzweig, along with Senior Director Dan Baker.

The transaction reflects broader momentum in commercial real estate investment activity. U.S. commercial real estate investment volumes reached $113 billion in the first quarter of 2026, up 25% year over year. JLL has also reported that its property sales and financing revenue rose 19% and leasing revenue rose 17%, with executives pointing to a pickup in deal activity across multiple markets and property types. That environment has supported renewed buyer interest in stabilized assets, particularly newer senior housing communities with strong occupancy and favorable demographic tailwinds.

Preston Greens, with its 2021 vintage, 95% occupancy, and Class A designation, represents the type of asset that has attracted capital in the current transaction environment. No sale price, cap rate, or price-per-unit figure was disclosed in connection with the transaction.

About the Firms

Cedarhurst Senior Living is the operating partner on the buyer side of the transaction. JLL Capital Markets is a global provider of capital solutions for real estate investors and occupiers, offering investment sales and advisory, debt advisory, mergers and acquisitions, loan sales, equity and fund placement, and other services. The group has more than 3,000 specialists worldwide with offices in nearly 50 countries.

JLL (NYSE: JLL) reported annual revenue of $26.1 billion and operations in over 80 countries as of June 30, 2026, with a global workforce of more than 112,000.