Cushman & Wakefield Arranges Sale of 402-Unit CCRC in New Jersey

by Jeff Shaw

DENVILLE, N.J. — Cushman & Wakefield has arranged the sale of Franciscan Oaks, an entrance-fee continuing care retirement community in Denville, approximately 40 miles west of New York City. The price was not disclosed.

Catholic Health Initiatives, a nonprofit health system based in Colorado, sold the property to Springpoint Senior Living, New Jersey’s largest nonprofit seniors housing provider.

Franciscan Oaks is situated on 14 acres and includes 285 independent living apartments, 33 assisted living units and an 84-bed skilled nursing facility.

The Cushman & Wakefield team of Allen McMurtry, executive managing director; Megan Fetter, senior managing director; and David Kliewer, senior managing director, represented the seller in the deal.

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