Cushman & Wakefield’s Senior Housing Capital Markets team has completed the portfolio sale of The Addington at Wellington Green and The Institute for Healthy Living at Jupiter, two skilled nursing and assisted living communities located in Palm Beach County, for $116 million.
The Addington at Wellington Green is a 120-bed skilled nursing and 52-unit assisted living community built in 2011. The Institute for Healthy Living at Jupiter is a 129-bed skilled nursing, 62-unit assisted living, and 30-unit memory care campus that just completed construction and received licensure. The closing represents the last of three strategically planned majority skilled nursing property sales in Florida by Healthcare Trust, Inc. Healthcare Trust, Inc is a public, non-traded real estate investment trust based in New York.
A growing regional owner/operator acquired the community after a competitive process spearheaded by the Cushman & Wakefield team of Vice Chairman Richard Swartz, Executive Managing Director Jay Wagner, Managing Director Aaron Rosenzweig, and Directors Dan Baker and Sam Dylag.
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