JLL’s Seniors Housing team arranged the sale and the Freddie Mac financing for the two Class A communities
PHOENIX, Jan. 23, 2026 – JLL Capital Markets announced today that it has completed the sale and financing of a two-property seniors housing portfolio comprising The Watermark at Morrison Ranch in Gilbert, Arizona, and Acoya Mesa in Mesa, Arizona. Both communities are operating with stabilized performance in-place.
JLL’s Seniors Housing Capital Markets team marketed the portfolio on behalf of the seller, PGIM. PGIM owned one of the assets, Acoya Mesa, in a joint venture with the original developer of the asset, Ryan Companies US, Inc. JLL also worked on behalf of the buyer to secure the 10-year, acquisition loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo Lender for seniors housing loans.
The Watermark at Morrison Ranch is a two-story building housing 115 units of assisted living and memory care. Built in 2019, the property offers Class A amenities, including three distinctive dining venues, a fitness center, technology center, library and full-service salon, among others. The 4.6-acre site is located at 3333 E Morrison Ranch Pkwy in a densely populated affluent area of the Phoenix MSA within a high-end master planned community.
Acoya Mesa was developed and built by Ryan Companies in 2019 and consists of a three-story building offering 51 units of independent living, 91 units of assisted living and 28 units of memory care. Common areas feature a café/bistro/pub, restaurant-style dining, movie theatre, salon, game room, activities room and library. Acoya Mesa is positioned on 7.97 acres at 6502 E Brown Rd, approximately 20 minutes from The Watermark at Morrison Ranch. The property is located in Mesa, a southeast suburb of Phoenix offering a high-quality of life and a variety of amenities.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.
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About PGIM
PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU) is built on a 150-year legacy of strength, stability, and disciplined risk management through more than 30 market cycles. Managing more than $1.44 trillion in assets,[1] PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions — including fixed income, equities, real estate and other retail investment vehicles. With 1,450+ investment professionals across 42 offices in 19 countries, we serve retail and institutional clients worldwide. For more information visit pgim.com.
PGIM’s real estate business is the world’s third-largest real estate investment manager, with $213 billion in gross assets under management and administration,[2] and real estate professionals located in 30+ cities worldwide. Through our full suite of real estate equity and debt solutions, we aim to achieve exceptional outcomes on behalf of investors and borrowers. Our uncompromising commitment to building lasting relationships with our clients is founded on trust, transparency, and mutual respect.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit www.news.prudential.com.
About Ryan Companies US, Inc.
Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, designer, builder, capital markets advisor and real estate manager, with a focus on creating places for people to thrive. Ryan’s work spans a wide range of sectors and product types, including healthcare, industrial, mission critical, mixed-use, multifamily, office, and retail. Built on the foundation of integrity, honesty and community, Ryan has grown to over 1,700 team members in 17 offices and has completed projects in nearly every state. For more information, visit www.ryancompanies.com.
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 $23.4 billion and operations in over 80 countries around the world, our more than 113,000 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.
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