Cushman & Wakefield Senior Housing Capital Markets arranged the sale of a portfolio of two communities in the Dallas Metroplex consisting of 265 units of independent living, assisted living and memory care. The communities are in Irving, TX and in Plano, TX. The properties were acquired by a real estate investment company and are being managed by subsidiaries of Senior Lifestyle Corporation.
The two attractive communities are a complementary pairing of assets in two different Dallas submarkets. MacArthur Hills in Irving is a newly constructed full-continuum community that offers detached independent living villas and assisted living and memory care programming. Prestonwood Court in Plano is an assisted living and memory care community with a stabilized history over the last decade. Both communities are Class-A properties located in infill submarkets that benefit from the extraordinary demand drivers in Plano and Dallas overall. The properties feature complete amenity packages including restaurant-style dining, bistros, covered patios, indoor pools and state-of-the-art fitness centers, as well as libraries, media rooms, and game rooms. The portfolio has outperformed many similar communities in the DFW market as a result of their accessible locations surrounded by amenities and feeders.
The Cushman & Wakefield team involved in the transaction included Vice Chairman Richard Swartz, Executive Managing Director Jay Wagner, Director Jim Dooley, and Associate Chris Remeika.
“This was a great execution for the seller and our team has been pleased to represent them on these high-quality assets as we continue to transact in Texas,” said Swartz. “The buyer was a pleasure to work with throughout this process and is poised to be successful with these two great well-located communities,” added Wagner.
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 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 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.
