Through its lending arm JLL Real Estate Capital, JLL Capital Markets closed a $20.3 million  for Spring Village at Dover, a 50-unit/56-bed memory care community.

The financing will enable the property’s private equity ownership to continue delivering specialized dementia care services, managed by Woodbine Senior Living.

The U.S. Department of Housing & Urban Development 232/223(f) program provides senior housing owners with competitively priced, non-recourse financing with long-term fixed rates and flexible prepayment options. JLL’s dedicated HUD platform has closed billions in senior housing transactions, offering specialized expertise in navigating the federal financing process for assisted living, memory care and skilled nursing properties nationwide.

“The HUD 232/223(f) program is an exceptional financing tool for memory care operators seeking long-term capital stability,” JLL Senior Manager Jay Wagner said in a statement. “This transaction demonstrates how purpose-built memory care communities can leverage the HUD program to secure competitive, sustainable financing that supports their mission of providing high-quality care.”

The transaction was led by JLL’s Seniors Housing Capital Markets team, including senior managing directors Wagner, Rick Swartz and Aaron Rosenzweig, and senior director Sam Dylag.