DENVER, Jan. 11, 2021 – Cushman & Wakefield announced today that the real estate services firm’s Senior Housing Capital Markets team has arranged the sale of a high quality, urban infill development site in the affluent Cherry Creek suburb of Denver, CO. The fully entitled site was purchased by Ryan Companies, Cadence Living and Harrison Street, a joint-venture partnership that will transform the site into a senior living community.
The property, located in a well amenitized urban area, will be a seven-story, mid-rise building totaling 137 units of independent and assisted living space. Keeping with the affluent demographics of the surrounding area, the development will be built to Class-A standards and will feature a host of upscale amenities, which will position it as a leader in the marketplace.
Cushman & Wakefield served as the exclusive advisor to Titan Development and supported Ryan Companies with helping to source the development equity partner.
“We are pleased to have successfully executed on behalf of both seller and buyer through a challenging time in the senior housing industry,” said Aaron Rosenzweig, managing director at Cushman & Wakefield.
The Cushman & Wakefield team involved in the transaction included Vice Chairman Rick Swartz, Executive Managing Director Jay Wagner, Managing Director Aaron Rosenzweig, Director Dan Baker and Associate Bailey Nygard.
About Titan Development and Titan Development Real Estate Fund
Titan Development is one of the Southwest’s largest and most active, vertically integrated real estate investor/developers. Titan offers development investment and construction services for multifamily, industrial, self storage,mixed use, senior housing, office, , and retail real estate. Titan strives to create relationships which build value for their investors , their partners and the communities in which they invest . These relationships, combined with an unparalleled track record of investment success, give Titan a strong advantage in delivering high quality developments in short time frames and within tight budgets.
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 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 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 @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 12 professionals. The team is consistently ranked amongst the top senior housing brokerage groups in transaction value and has executed on greater than $8 billion in transactions.
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