Cushman & Wakefield Arranges Sale of 80-Unit Senior Housing Community in Webster Groves, Missouri

5/3/17

Cushman & Wakefield Senior Housing Capital Markets Group, advising a joint venture of Provision Living Senior Communities and WellTower, has arranged the sale of Provision Living at Webster Groves, an 80-unit/84-bed assisted living and memory care community to Sunrise Senior Living.

Built in 2012 in affluent Webster Groves, MO, 10 miles west of St. Louis, Provision Living at Webster Groves is a well-appointed three-story community with 62 assisted living units and 18 memory care units (22 beds). It is one of the premier communities for seniors that reside in the prestigious towns of Webster Groves, Clayton, and Kirkwood, MO. The property features 10-foot ceilings, fine dining and spacious common areas, with unique amenities such as a bowling alley, theatre, physician’s space and a bistro/café. The community also offers five oversized penthouse AL units at premium rents with luxury finishes.

The Cushman & Wakefield team involved in the transaction included Executive Managing Director Richard Swartz, Executive Director Jay Wagner and Director Jim Dooley.

“Webster Groves was a natural fit for Sunrise and will serve as a perfect complement to their existing three properties,” said Wagner.

Added Swartz, “The strong interest in this asset demonstrated the continued market focus on recently built assisted living/memory care facilities in major metropolitan markets.”

About Provision Senior Living

Provision Senior Living was formed in 2005 by Todd Spittal and David Weiss. Based in St. Louis, Provision Senior Living has grown over the last decade throughopportunistic acquisitions, developments and dispositions. Their current portfolio consists of 20 assisted living and memory care communities located in Florida, Georgia, Illinois, Indiana, Michigan, Mississippi, Missouri, Ohio and Tennessee. These properties represent 1,500 units and approximately 1,000 associates.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 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. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.

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