National Senior Housing Brokerage Team Facilitates Sale of Woodland Terrace in Indiana

November 2021

Jay Jordan and David Kliewer have arranged the sale of the Woodland Terrace Portfolio, a three-property, 482-unit portfolio of newly-constructed independent living, assisted living, and memory care campuses surrounding the Indianapolis area in Carmel, New Palestine and Danville. Developed, owned, and operated by The Justus Companies, two of the communities – Carmel & New Palestine – opened in 2017/2018, with the third, Danville, delivered to the purchaser at construction completion. The team led by Jay Jordan and David Kliewer represented The Justus Companies in the sale to a partnership between a national investor and Purpose First Partners, a venture between New Perspective Senior Living and Boldt Capital.

Developed by Justus between 2017 – 2021, the Woodland Terrace Portfolio is reflective of Justus’ 111-year reputation for top-tier construction quality and great attention paid to fitting each project with its respective market. Opened in 2017, Woodland Terrace of Carmel is a 179-unit IL/AL/MC community. In 2017/2018, the 132-unit Woodland Terrace of New Palestine community opened, inclusive of 34 IL cottages. Moreover, a 7-unit expansion is underway for a total of 139 units upon completion. The Woodland Terrace of Danville community is recently completed and consists of 130 units across IL, AL and MC, including 16 IL cottages. Inclusive of the planned expansion of an additional 34 IL cottages, the Danville campus will total 164 units upon completion.