Cushman & Wakefield Arranges Sale of 156-Unit Community in Northbrook, Illinois

NORTHBROOK, Ill. — Cushman & Wakefield Senior Housing Capital Markets Group has brokered the sale of North Shore Place, a 156-unit assisted living and memory care community in the Chicago suburb of Northbrook. The price was not disclosed.

The sale was an exchange of joint venture partners. Senior Lifestyle Corp. remains part owner of the property, but AEW Capital Management left the partnership and Blue Moon Capital Partners joined. Senior Lifestyle Corp. is also the operator of the community.

North Shore Place opened in 2014 as a luxury community with 116 assisted living units and 40 memory care units. It has been fully occupied with a wait list since 2016.

Future plans for the property include a standalone memory care building on unused land. If completed, more assisted living units will replace the memory care units in the current building.

The Cushman & Wakefield team involved in the transaction included Richard Swartz, Jay Wagner, Jim Dooley and Caryn Miller. In addition to the sale, Wagner, Aaron Rosenzweig and Tim Hosmer arranged acquisition financing on behalf of the buyer.

Senior Lifestyle Corporation operates over 180 communities in 27 states. Blue Moon Capital Partners is a private equity investor exclusively focused on seniors housing investments across the United States.

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