MIDDLETOWN, NJ-An affiliate of The Carlyle Group of Washington, DC has acquired a128-unit, independent living community here.

The former Regal Pointe property, which has been renamed Arbor Terrace at Middletown, was purchased from Middletown Senior Housing LLC, a joint venture among affiliates of Equity Resource Investments, LLC of Cambridge, MA; and Beacon Communities LLC of Boston. Brokerage firm HFF reported the transaction. No sale price was revealed. The property was sold free of debt. Equity for the investment will come from Carlyle Realty Partners VI L.P., a $2.25-billion real estate investment fund. 

The property situated on 6.24 acres features studio and one-bedroom units and recently underwent extensive renovations, including an overhaul of residential units, main common areas and the kitchen, HFF officials state. Resident services include three meals-per-day, housekeeping, transportation and on-site third-party home health care and physical/occupational therapy.

The Carlyle Group intends to convert a portion of the existing units to assisted living and memory care to provide the current and future residents with several levels of care. The Arbor Company has been selected to operate the community.

The HFF team that represented the seller in the transaction was led by managing director Ryan Maconachy and director Chad Lavender.