Cushman & Wakefield Arranges Sale of 75-Unit Community in Michigan

ANN ARBOR, Mich. — Cushman & Wakefield Senior Housing Capital Markets Group has arranged the sale of University Living at Ann Arbor, a 75-unit assisted living and memory care community in Ann Arbor.

Capitol Seniors Housing purchased the property from Provision Senior Living, which will continue to operate the community. The sale price was not disclosed, but CBRE provided a $12.2 million, 10-year, floating-rate acquisition loan to the buyer. Aron Will, vice chairman of CBRE National Senior Housing, arranged the financing.

University Living features 63 assisted living units and 12 memory care units. The community underwent renovations in 2014. The new owner has planned additional renovations to the common areas.

The Cushman & Wakefield team involved in the transaction included Richard Swartz, Jay Wagner and Caryn Miller.

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