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ROCHESTER, Minn. — Cushman & Wakefield has arranged the sale of The Waters on Mayowood, a 175-unit independent living, assisted living and memory care community in Rochester.
The seller was a joint venture between The Waters Senior Living, Harrison Street Real Estate Capital and North Rock Real Estate. A private buyer acquired the property for an undisclosed price, and will retain The Waters as operator.
The property was originally constructed in 2015 and has averaged over 96 percent occupancy since January 2018.
Cushman & Wakefield’s Rick Swartz, Jay Wagner, Sam Dylag and Jack Griffin arranged the transaction.