Cushman & Wakefield Recapitalizes 289-Unit Portfolio in New England for LCB Senior Living

BOSTON — Cushman & Wakefield Senior Housing Capital Markets Group has arranged recapitalization financing for a 289-unit independent living, assisted living and memory care portfolio in New England. The borrower is LCB Senior Living and its joint venture capital partner, Harrison Real Estate Capital, which recently acquired the properties. The amount of the financing was not disclosed. The assets include four properties in Ipswich, Mass. (built in 2014); South Windsor, Conn. (built in 2015); Avon, Conn. (built in 2015); and Lincoln, R.I. (built in 2009). The Cushman & Wakefield team that led the transaction included Rick Swartz, Jay Wagner, Jim Dooley and Caryn Donahue. In addition to the sale, Cushman & Wakefield arranged acquisition financing on behalf of the buyer with PGIM Real Estate Finance that closed concurrently with the recapitalization. The financing holds a 10-year term that is interest-only through maturity.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties