Cushman & Wakefield Arranges $13M Financing for The Palazzo in Phoenix

PHOENIX — Cushman & Wakefield Senior Housing Capital Markets has arranged a $13 million refinancing for The Palazzo, a 327-unit seniors housing community in Phoenix.

The borrower is a joint venture of an affiliate of Westport Capital Partners LLC and Integro Healthcare Consulting.

The borrower originally acquired the 14-acre campus in 2017. The property recently underwent a $10 million renovation, and the refinancing will replace the original acquisition financing while current ownership finishes executing its business plan.

The community comprises two three-story buildings totaling 335,000 square feet, featuring 100 independent living units, 171 assisted living units, 29 memory care beds and 60 skilled nursing beds.

The Cushman & Wakefield team involved in the transaction included Richard Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard.