Cushman & Wakefield Arranges $145M Acquisition Financing for West Coast Portfolio

by Jeff Shaw

SEATTLE — Cushman & Wakefield has arranged $145 million in acquisition financing for Merrill Gardens, which will use the funds to purchase a 456-unit seniors housing portfolio on the West Coast.

Merrill Gardens, a seniors housing owner-operator based in Seattle, already operates the four communities that it will now own, along with a joint venture partner that was not named. The portfolio includes properties in the high-barrier-to-entry markets of Orange County, San Francisco, Silicon Valley and downtown Seattle.

The properties acquired are Merrill Gardens of Huntington Beach, Merrill Gardens at Lafayette, Merrill Gardens at Campbell, and Merrill Gardens at First Hill. The communities offer independent living, assisted living and memory care.

Cornerstone Real Estate Advisors, acting on behalf of an institutional investor, provided the $145 million in long-term financing. The Cushman & Wakefield team, which arranged both the loan and the transaction, included Richard Swartz, managing director; Jay Wagner, managing director; Aaron Rosenzweig, senior director; Michael Kane, senior director; and Timothy Hosmer, director.

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