In its exclusive representation of Auctus Capital Partners (“Auctus”), Cushman & Wakefield Senior Housing Capital Markets has arranged the first mortgage acquisition financing for the acquisition of Chateau at Carmichael Park, a 99-unit independent, assisted living and memory care senior housing community located in Carmichael, California, an affluent suburb of Sacramento. The acquirer, Auctus Capital Partners, is a private real estate firm based in San Diego, California. The lender was Owens Financial based out of San Francisco, California.
Chateau at Carmichael Park is a 99-unit independent living, assisted living and memory care community located in Carmichael, California. The two-story community was built in 1975 and consists of 50 studio units and 47 one-bedroom units. Auctus plans on making physical improvements to both the interior and exterior of the building. Integral Senior Living will operate the community.
The non-recourse financing capitalized both the acquisition as well as the planned capital improvements to the community. Senior Director Aaron Rosenzweig from Cushman & Wakefield worked on the transaction.
About Auctus Capital Partners
Auctus Capital Partners is a real estate investment firm focused on acquisition, turnaround and asset management of senior housing and multifamily communities in the Western United States. This is the fourth senior housing acquisition for Auctus as it concludes its first year since the firm was founded by Chris Rosenstock in the Fall of 2014.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.