Clearwater Living Develops In Familiar Territory
Cushman & Wakefield Capital Markets Group arranged $20.6 million in construction financing on behalf of Clearwater Living to build a 90-unit/104-bed assisted living/memory care community in Rohnert Park, California. PNC Bank provided the financing, which was arranged by C&W’s Richard Swartz, Aaron Rosenzweig, Timothy Hosmer and Alex Petrosian. The new community will feature amenities including a community pub, display kitchen, outdoor dining, theater and dog park, and is located next to a 207-unit 55+ community that was developed by Clearwater Living’s CEO, Tony Ferraro, back in the early 2000s. Clearwater clearly knew the area well. Read More »
LCB Senior Living Leaves New England For First Time
LCB Senior Living is venturing outside of New England for the first time with the help of a construction loan arranged by Cushman & Wakefield. The property in question, located in Chadds Ford, Pennsylvania (Philadelphia/Wilmington MSA), will have 84 units of independent living, assisted living and memory care services, and will be the Massachusetts-based operator’s 15th seniors housing development and the first south of Connecticut. LCB, and its institutional joint venture partner, expects to complete the project in the second quarter of 2019. To finance the project, Rick Swartz, Jay Wagner, Aaron Rosenzweig, Jim Dooley and Caryn Donahue of Cushman & Wakefield arranged a $20.5... Read More »
Cushman & Wakefield Sells For Capitol Seniors Housing
Three and a half years after purchasing a 97-unit assisted living/memory care community in Silicon Valley (in the town of Fremont, to be more specific), Capitol Seniors Housing is exiting the asset, making a tidy return we imagine, thanks to Rick Swartz, Jay Wagner, Aaron Rosenzweig and Alex Petrosian of Cushman & Wakefield, who represented CSH in a competitive bidding process. Since acquiring the property from Westport Capital Partners in 2014 for $23.75 million, or about $244,800 per unit, CSH and its operating partner, MBK Senior Living, worked to improve the community’s occupancy, which sat at 81% in 2014, and margin, at just 19%. CSH invested upwards of $1.0 million to improve the... Read More »
Cushman & Wakefield Arranges $45 Million Recapitalization
Cushman & Wakefield successfully recapitalized a 90-unit senior living community in downtown Watertown, Massachusetts (Boston MSA) in a transaction totaling $45 million. Rick Swartz, Jay Wagner, Jim Dooley and Caryn Donahue represented joint venture owners Washington Capital Management and LCB Senior Living, which is also the operator of the property. Developed in 2014 at an in-fill location in the Greater Boston area, the community features independent living, assisted living and memory care services. In addition to the many walkable amenities in the neighborhood, there is also a café, exercise room, barber/beauty salon, restaurant-style dining and an outdoor dining patio. So, for... Read More »Schedule a demo
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