Kisco Senior Living added a high-quality seniors housing community in Laguna Niguel, California (Orange County) to its portfolio, taking over operations from Atria Senior Living. It also acquired the property with Harrison Street acting as advisor to an institutional investor for an undisclosed price. Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard of Cushman & Wakefield served as exclusive advisor to the seller, a joint venture between Fremont Realty Capital and Steadfast Development.
Opened in 2018, Crestavilla is an upscale community with 201 units of independent living, assisted living and memory care. It is LEED Gold certified and features numerous amenities including three dining rooms, two fitness areas, an outdoor pool and spa, and a 12,000-square-foot rooftop space.
To fund the acquisition, Cushman & Wakefield also represented the buyer in procuring a loan from a national bank. The acquisition represents a shift in Kisco’s strategy to serve the high end of the market as well, with this community serving as Kisco’s first Signature Community, the company’s new upscale brand. Next up with be The Carnegie at Washingtonian Center, set to open in spring 2024 as Kisco’s second Signature Community.
