GREAT FALLS, Va. and QUEENSTOWN, Md. — Cushman & Wakefield has brokered the $89 million sale of a two-property seniors housing portfolio located in Maryland and Virginia. LTC Properties acquired the portfolio from Buvermo Investments, SHA Capital, Verity Commercial and INDIE.
Both assisted living and memory care communities, the properties include Queenstown Landing in Queenstown, Maryland, and The Residence at Colvin Run in Great Falls, Virginia. The communities were built in 2021 and 2022, respectively.
IntegraCare will continue to operate the properties on behalf of LTC.
Joshua Jandris, Brett Gardner, Robert Bracci and Evan Jakobsze of Cushman & Wakefield arranged the transaction on behalf of the sellers.
“This transaction reflects the continued demand for modern, high-quality seniors housing assets in tight markets with strong demographic fundamentals,” says Jandris. “The portfolio’s occupancy rate and recent construction make it a compelling investment opportunity, establishing LTC Properties’ presence in two extremely attractive submarkets.”