Cushman & Wakefield National Senior Housing Capital Markets, exclusively advising Focus Healthcare Partners LLC, has arranged the sale of a portfolio of two senior housing assets in Portland, OR. The portfolio included Vancouver Pointe Senior Village, a 127-unit independent living community, and Hawthorne Gardens, a 58-unit / 71-bed assisted living and memory care community, located in the heart of the Sunnyside/Hawthorne neighborhood of Portland. Together the portfolio represents 185-units / 198-beds spanning the full continuum of senior care. The properties were acquired by a leading private equity investor. Artegan, the current operator, will continue to manage the communities.
Vancouver Pointe Senior Village is a Class-A 127-unit independent living community located approximately nine miles north of downtown Portland, OR. The property was originally built in 2006, and recently underwent a capital renovation totaling nearly $1 million which upgraded common areas, finishes, and FF&E.
Hawthorne Gardens is a modern senior housing community, built in 2007 featuring 36 assisted living units and a 22-unit / 35-bed memory care wing. Hawthorne Gardens also underwent a recent capital improvement program to complete a memory care conversion and a general upgrade of the community.
The Cushman & Wakefield team involved in the transaction included Vice Chairman Richard Swartz, Executive Director Jay Wagner, and Senior Director Aaron Rosenzweig.
Cushman & Wakefield’s National Senior Housing Capital Markets team was established in 2011 and advises top institutional owners, developers and operators on equity, debt and investment sales throughout the United States. Located in Boston and Southern California, the team is led by Rick Swartz and Jay Wagner. The team is consistently ranked amongst the top senior housing brokerage groups in transaction volume.
About Cushman & Wakefield:
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman and Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.
About Focus Healthcare Partners
Focus Healthcare Partners LLC is a real estate investment management firm headquartered in Chicago, Illinois. The firm targets senior housing and healthcare real estate investments on behalf of institutional and private investors. Since its inception in 2010, Focus has invested in a broad range of healthcare real estate investments, across equity and debt positions, throughout the United States. The firm’s skilled and well-respected management team has invested through multiple real estate cycles which enables it to identify opportunities to maximize value, while prioritizing capital preservation.