Cushman & Wakefield arranged the sale of a senior care campus in the state of Oklahoma. Built in 1999, Brighton Gardens of Omaha comprises 132 units and 161 beds of assisted living, memory care and skilled nursing in the city of Omaha, Nebraska. California-based AgeMark acquired the community from Brookfield Asset Management for a purchase price of $18 million, or $136,400 per unit. Agemark plans to convert the skilled nursing wing into additional memory care units. Rick Swartz, Jay Wagner, Tim Hosmer, Bailey Nygard of Cushman & Wakefield handled the transaction.
Cushman & Wakefield also announced the sale of a stabilized assisted living/memory care community in Texas. Built in 2017, Franklin Park of Round Rock, comprises 76 units of assisted living and memory care in the greater Austin area. The ground-up development built by one of the sellers, Franklin Development Company, has maintained a 95% occupancy rate for the past year since reaching stabilization. Franklin Park is 100% private pay and the property is a single-story building configured in an irregular pentagonal shape that includes three interior courtyards. Inspired Healthcare Capital acquired the property for an undisclosed price, and its captive operator Volante Senior Living will operate the community going forward. Richard Swartz, Jay Wagner, Jim Dooley and Jack Griffin of Cushman worked on behalf of Franklin Park Senior Living and its institutional capital partner in the transaction.
