Walnut Creek, CA – August 29, 2022 – Cushman & Wakefield, as exclusive advisor to a joint venture between Kisco Senior Living and an institutional investor, has arranged the recapitalization of Byron Park, a well-established and upscale senior housing asset located in the Bay Area submarket of Walnut Creek, California. The community was recapitalized by a joint venture between Kisco and an institutional real estate owner.
A fixture of the Walnut Creek community, Byron Park offers upscale independent and assisted living options across 187 units. The community is managed by Kisco Senior Living, who will maintain operations under new ownership.
Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard handled the transaction.
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 approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and 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 14 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.
About Kisco Senior Living
Kisco Senior Living, based in Carlsbad, California, operates 21 full service senior living communities in six states offering independent living, assisted living and in some locations, memory care and skilled nursing. Kisco is proud to expand their portfolio to include their new Signature Communities with an elevated delivery of five-star hospitality. Signature Communities are purposefully designed to create a unique environment with expanded levels of services, amenities and experiences designed to empower, enrich and enhance residents’ lives to pursue their passion and purpose. For more than 30 years, Kisco Senior Living has specialized in developing and managing full-service senior living communities with a portfolio featuring a wide spectrum of individualized services and lifestyle options. Our unique approach and philosophy, called Kisco Confidence, is centered on giving residents and associates peace of mind knowing that our communities deliver on safety and security, trust and transparency, health and wellbeing and a 5-star lifestyle experience. For more information, please call (760) 804-5900 or go to kiscoseniorliving.com.
Cushman & Wakefield
Communications Manager, East Region
+1 212 841 5052
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE