Silicon Valley Senior Housing Trades Hands
- Dec 12, 2017
Cushman & Wakefield closed the sale of Fremont Hills, a 97-unit assisted living and memory care community in Silicon Valley.
The buyer was a partnership between Kayne Anderson Real Estate Advisors and Watermark Communities, while the seller, advised by C&W’s Senior Housing Capital Markets Group, was Capitol Seniors Housing. Watermark Communities will operate the community.
The property is located in a predominantly residential area of Fremont, at 35490 Mission Blvd., adjacent to Nile Hills and in close proximity to Dry Creek Pioneer Regional Park. Built in 2004, the three-story building features 76 assisted living units and 21 memory care units. The property has been fully occupied since 2015.
The Cushman & Wakefield team involved in the deal included Executive Managing Director Richard Swartz, Executive Director Jay Wagner, Senior Director Aaron Rosenzweig and Associate Alex Petrosian.
“We’re proud to have advised on Fremont Hills for the second time and to have ended up with a tremendous execution for our client. The market continues to demonstrate robust demand for Class A senior housing opportunities in strong markets,” said Swartz, in prepared remarks.
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