LA JOLLA, CA, July 19, 2019 – Cushman & Wakefield Senior Housing Capital Markets (C&W), exclusively advising BPM Real Estate, arranged the portfolio sale of six senior housing communities totaling 670 independent living, assisted living and memory care units located Oregon, California and Nevada.
The sale represents a strategic shift to a more diversified portfolio by the seller, BPM Real Estate, a large commercial real estate developer and owner based in Portland, Oregon. C&W represented BPM to identify a suitable buyer for the senior housing assets that include a mix of stabilized assets as well as newly renovated assets.
The six-asset portfolio offers dynamic geographical diversification in the western United States in high barrier-to-entry markets and infill locations.
The Cushman & Wakefield team who led the transaction includes Vice Chairman Rick Swartz, Executive Managing Director Jay Wagner, Managing Director Aaron Rosenzweig and Directors Jim Dooley and Dan Baker.
“The BPM Senior Living portfolio represents top tier west coast senior housing real estate with a strong in-place yield as well as attractive upside potential,” remarked Wagner.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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 and includes a total of 11 professionals. The team is consistently ranked amongst the top senior housing brokerage groups in transaction value and has executed on greater than $6 billion in transactions.
About BPM Real Estate Group
BPM Real Estate Group (“BPM”) was founded by Walter C. Bowen in 1980. Active across multiple sectors and markets, BPM can enhance the value of its properties with superior design, intelligent development, superior customer focused property management and efficient partnerships. Dedicated to enriching lives and inspired built environments, BPM represents an unwavering commitment to quality in all aspects of a project. From concept to completion, its holistic approach unlocks value for both tenants and owners.