Cushman & Wakefield secured an all-cash, $40 million equity raise for the recapitalization of the Seascape at Naples, offering an attractive basis with strong upside potential. Built in 2018, this Class-A seniors housing community is in Naples, Florida, with 196 independent living, assisted living and memory care units.
John Alascio, Aaron Graves and Jason Blankfein of Cushman & Wakefield’s Equity, Debt & Structured Finance group advised the borrower, Distinctive Healthcare, alongside seniors housing specialists Jason Skalko from Cushman’s Investment Sales team and David Young of Greystone.
Within the first month of taking over operations, Distinctive accelerated leasing for the asset, putting it on a path to stabilization much sooner than originally projected. The operator is looking to continue expanding its footprint in this market.
