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ST. PAUL, Minn. — Cushman & Wakefield has arranged $16.5 million in financing for a joint venture between The Waters Senior Living and an institutional capital partner.
The acquisition loan is for the purchase of The Waters of Highland Park, an 84-unit independent living, assisted living and memory care community in the Highland Park neighborhood of St. Paul.
Cushman & Wakefield’s Rick Swartz, Jay Wagner, Sam Dylag and Bailey Nygard represented the borrower in the transaction.
“We originally developed the community and have managed it since opening but we are thrilled to take an ownership position in this amazing property,” says Tami Kozikowski, president and CEO of The Waters.