Cushman & Wakefield Arranges Welltower’s Acquisition of 176-Unit Community Near Raleigh

CARY, N.C. — Cushman & Wakefield Senior Housing Capital Markets Group has arranged the sale of Woodland Terrace, a 176-unit independent living, assisted living and memory care in Cary.

Kisco Senior Living operates the community and is also part owner. Giant seniors housing REIT Welltower acquired the ownership interest of Kisco’s prior partner, an institutional investor, for an undisclosed price.

Woodland Terrace comprises multiple buildings spread across a 22-acre campus in the Raleigh-Durham area. The community features 104 independent living units, 36 assisted living units and 36 memory care units.

Woodland Terrace was 95 percent occupied at the time of the sale. It was built in 1999, expanded in 2008 and renovated in 2014. A plan is currently underway to renovate units individually as residents leave. Kisco has operated the community since its opening.

The Cushman & Wakefield team involved in the transaction included Richard Swartz, Jay Wagner and Jim Dooley.