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Continuum Advisors Facilitates $54.5 Million Sale of Laurel Circle in New Jersey
Continuum Advisors, a national senior housing investment sales and advisory firm, has successfully closed the sale of Laurel Circle, a luxury 270-unit continuing care retirement community (CCRC) located in Bridgewater Township, Somerset County, New Jersey. The expansive property, situated on 25 acres, was acquired by an affiliate of Maxwell Group & Senior Living Communities for a reported $54.5 million.
The transaction was led by Continuum co-founders David Kliewer and Jay Jordan, who represented a joint venture that included LCS in marketing the asset. The listing garnered significant buyer interest, highlighting continued demand for high-quality senior living communities.
This deal marks the second time Continuum’s leadership has been involved in the property’s sale. Laurel Circle, formerly known as Arbor Glen, was previously sold in 2018 after being 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.”
The successful disposition underscores a positive outlook for the senior housing market, particularly in strategically located, entrance fee-based retirement communities.
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