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Posted: March 1, 2016
Cushman & Wakefield arranges $28.7 million acquisition financing for 226-unit Tampa senior housing community
Tampa, FL As advisor to The Carlyle Group, Cushman & Wakefield’s equity, debt & structured finance group has arranged a $28.7 million acquisition and re-development financing for Renaissance Senior Living, a senior housing community. Financing was provided by a regional bank.
Cushman & Wakefield’s national senior housing capital markets team arranged the financing, led by Jay Wagner, Managing Director, and Timothy Hosmer, associate, of the Boston office.
Renaissance Senior Living is a 226-unit senior housing community offering the full continuum of care, including independent living, assisted living and memory care.
in a campus setting. The financing funds a comprehensive renovation program that is presently underway which includes the creation of dedicated buildings for each level of care as well as extensive enhancements to the community’s amenity areas.
The financing will facilitate Carlyle’s re-positioning of the property as the only rental community in the market offering a full continuum of care in a campus setting, and one of the premier senior communities in the region. The campus environment provides a significant advantage over competitors and the improvements will allow Renaissance to capitalize on the great demand for high-quality senior housing services in the area,” said Cushman & Wakefield’s Jay Wagner.
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