Several years after financing the acquisition of a CCRC in Phoenix, Arizona, Cushman & Wakefield is returning to refinance the property in a $13 million deal. Featuring a total of 327 units, made up of 100 independent living units, 171 assisted living units, 29 memory care beds and 60 skilled nursing beds, the community is set on a 14-acre campus in northern Phoenix.  

A joint venture between an affiliate of Westport Capital Partners LLC and Integro Healthcare Consulting, LLC acquired it in 2017 for an undisclosed sum, with the help of a $15.1 million financing commitment from PNC Bank and arranged by Cushman & Wakefield. The debt also helped fund immediate renovations and a repositioning project, which in the end totaled approximately $10 million. 

With the projects done, ownership wished to replace the original financing and get some cash out. So, Richard Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard arranged a $13 million refinance, at a moderate loan-to-value, with an earn-out component. A regional bank based in the West provided the loan with a floating rate and competitive bank pricing.