As advisor to a joint venture between certain affiliates of Westport Capital Partners LLC and LifeHOUSE Health Services, Cushman & Wakefield’s Senior Housing Capital Markets Group arranged the sale of The Montecito, a 195-unit luxury independent and assisted living community in Peoria, Arizona. The property was acquired by a joint venture between affiliates of Dune Real Estate Partners LP, a NY-based real estate investment firm, and Focus Healthcare Partners, LLC, a Chicago-based healthcare real estate investment firm. The property will be managed by Integral Senior Living. This is the second investment that Dune and Focus have made together.
The Cushman and Wakefield team involved in the transaction included Richard Swartz, Head of Cushman & Wakefield’s Senior Housing Capital Markets team, Managing Director Jay Wagner, Director Aaron Rosenzweig and Associate Stuart Kim.
“The Montecito is a truly exceptional asset and a great addition to the Dune and Focus JV” said Mr. Swartz of Cushman & Wakefield.
“We are extremely pleased to have the opportunity to serve the residents of Montecito -- to providing them with enhanced service offerings, to creating a luxury resort experience, and to helping build a more connected community,” said Collette Valentine, CEO/COO for Integral Senior Living.