PALM BEACH, FL-The Carlisle, a 310-unit independent and assisted living community in Lantana, has traded for an undisclosed amount. The six-story mid-rise community has 250 independent living units and 60 assisted living units.

ARA’s Senior Housing specialists Ryan Maconachy and Chad Lavender represented Palm Beach Club in the sale of the asset. AEW Capital Management acquired the property on behalf of AEW Senior Housing Investors. Senior Lifestyle Corporation, a joint venture partner of AEW, will manage the facility.

“There was a lot of competition for this deal,” Maconachy tells GlobeSt.com. “Most of the core stabilized buyers in the market with the capability to do a deal of this size took interest in the property. AEW is looking to gain an upside through improved management and occupancy. The property was about 83% leased at closing.”