Cushman & Wakefield’s Senior Housing Capital Markets team completed the off-market sale of a 99-unit memory care community in Oregon for $25 million, or $252,500 per unit. The seller, a California-based national operator, had acquired the property as part of a larger portfolio of non-core assets that a public REIT was divesting in 2019.
This community also did not fit into that buyer’s plans moving forward, hence the current sale. So, a growing Portland area-based owner/operator with a local and regional presence stepped in to acquire the well-run property. Cushman’s Rick Swartz, Jay Wagner, Aaron Rosenzweig and Dan Baker handled the deal.
