Talk about a surprise move. Three key executives at Cushman & Wakefield just jumped ship and landed at JLL Capital Markets. The trio includes Senior Managing Directors Jay Wagner and Rick Swartz, who will co-lead the team at JLL, and Senior Managing Director Aaron Rosenzweig, who will focus on investment sales, joint venture equity and financing transactions throughout the U.S.
Wagner and Swartz were co-heads and Vice Chairmen of the Seniors Housing Group at Cushman. Rosenzweig served as Executive Director of the group, working on more than $11 billion in transactions over a 12-year period. This includes M&A, debt and equity placements.
This is a big blow to C&W, which had become a top-five seniors housing broker in many categories in recent years. We are not sure how they will pick up the pieces. For JLL, which lost a few key investment sales personnel recently, adding this team is huge. We are sure JLL Senior Managing Director Ted Flagg is very happy he snagged them.
Wagner and Swartz are based in Boston, while Rosenzweig is based in San Diego, and they will all stay put. The question now is, what does Cushman do?
