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Cushman & Wakefield arranged $89 million senior housing portfolio sale
The two-community portfolio totaled 130 units and was 94% occupied at closing, with LTC Properties as the buyer.
Cushman & Wakefield announced it arranged the sale of a two-asset senior housing portfolio valued at $89 million, totaling 130 units. The portfolio includes an assisted living and memory care community in Great Falls, Virginia, and another in Queenstown, Maryland, ConnectCRE said.
According to ConnectCRE, The Residence at Colvin Run and Queenstown Landing were built in 2022 and 2021, respectively. The facilities were 94% occupied at closing.
ConnectCRE also reported that Buvermo Investments, SHA Capital, Verity Commercial and INDIE sold the portfolio to LTC Properties, Inc., with IntegraCare retained as operator.