Continuum Advisors, a national senior housing investment sales and advisory firm, recently closed the sale of Laurel Circle, a luxury 270-unit continuing care retirement community (CCRC) situated on 25 acres in the Somerset County community of Bridgewater Township, NJ. Co-founders David Kliewer and Jay Jordan represented a joint venture including LCS in marketing the property, which generated strong buyer interest and culminated in the sale to an affiliate of Maxwell Group & Senior Living Communities for a reported $54.5 million.
The principals of Continuum previously arranged the sale of Laurel Circle (formerly Arbor Glen) in 2018, when it was acquired out of a defaulted bond sale process.
“From distress to success, the sale of Laurel Circle represents the full cycle of a strategic investment in an Entrance Fee CCRC / Life Plan community,” said Kliewer. “The successful turnaround demonstrates the strength of the Entrance Fee CCRC business model and demand for this asset class.”
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