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Cushman & Wakefield Arranges Sale of Two Independent Living, Assisted Living and Memory Care Communities in Connecticut

Jayden Lapin-Tatman • 1/6/2022

Connecticut – Cushman & Wakefield announced today that the real estate services firm has arranged the recapitalization of a 225-unit portfolio consisting of two independent living, assisted living and memory care communities located in the greater Hartford, Connecticut MSA.

Cushman & Wakefield’s Rick Swartz, Jay Wagner, Sam Dylag and Chris Remeika exclusively represented Everbrook Senior Living, which is acquiring the communities in a joint venture with White Oak Healthcare REIT (White Oak).

“We’re very pleased to have worked with Everbrook on executing this exciting transaction where we helped to achieve their goal to drive value for their investors while maintaining Everbrook’s management of the communities,” said Wagner. “Everbrook expertly developed two superb senior housing communities to address unmet demand and has proven to be an exceptional operator. The company’s focus on continuum communities in underserved markets with a more middle market price point really resonates with investors. We’re thrilled our client is partnering with a superb senior housing investor like White Oak.”

“We’re excited to partner with White Oak to continue to provide quality senior housing to our residents and their families at our Everbrook communities,” said Mike McCarthy, Chief Executive Officer of Everbrook Senior Living. “Cushman & Wakefield was phenomenal to work with on this sale. We’re thrilled to be able to return our investors’ capital as well as retain the operations.”

“We are very excited to have completed another acquisition of a high-quality asset for our growing senior housing portfolio. We look forward to our new partnership and continued growth with the Everbrook Senior Living team. Partnering with regionally focused senior housing operators with growth opportunities is a primary strategic initiative for White Oak,” added Jeff Erhardt, Managing Director and Chief Investment Officer of White Oak Healthcare REIT.

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 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 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 @CushWakeExternal Link on Twitter. 

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