JLL Capital Markets arranges the sale of Prairie House in Oklahoma
News release
11 July 2023
Assisted living and memory care community sells in Tulsa suburb
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DALLAS, Jul. 10, 2023 – JLL Capital Markets announced today that it has arranged the sale of Prairie House, a 105-unit assisted living and memory care community located in the growing Tulsa suburb of Broken Arrow, Oklahoma.
JLL represented the seller, Prevarian Senior Living, and procured the buyer, TUL ALF 3, LLC. Prairie House will be managed by Legend Senior Living, an affiliate of the buyer.
Prairie House consists of 73 assisted living units, ranging from studio to two-bedroom units, and 32 studio memory care units. Built in 2016, the facility features extensive common areas for the use and enjoyment of residents and visitors, including two landscaped courtyards, activity rooms and spacious lounges.
Located at 2450 N Stone Ridge Dr., the property is well situated with frontage on East 61st St. South on a site that is part of the 40-acre Ascension St. John Broken Arrow Hospital campus. The property is the only senior living facility developed in collaboration with St. John Broken Arrow, giving residents unmatched access to both preventative and acute care.
The JLL Capital Markets team was led by Managing Director Charles Bissell with support from Analysts Zach Brantley and Hope Brunner.
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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Prevarian Senior Living
Prevarian Senior Living is an owner/operator of senior housing communities in the southern United States. Its leadership team has extensive experience in the healthcare real estate industry and is currently pursuing a pipeline of seniors housing development and acquisition opportunities in Texas, Florida, Oklahoma and Arizona that are aligned or partnered with local healthcare systems. Prevarian’s communities offer independent living, assisted living and memory care apartments and services. For more information, visit prevarian.com.
About Legend Senior Living
Legend Senior Living™ operates 49 residences across the United States, offering Independent Living, Assisted Living/Personal Care, Memory Care and Health Care residential options. The Legend™ family of residences includes many distinctive residences that are well-known in and around the residences they serve, and dedicated to fulfilling the company’s mission to enrich and change lives for the better.