Cushman & Wakefield National Senior Housing Capital Markets, exclusively advising an affiliate of Capitol Seniors Housing, has arranged the sale of University Living, a 75-unit/79-bed high-quality, assisted living and memory care senior housing community located in the booming college town of Ann Arbor, Michigan. The property was acquired by an affiliate of Kayne Anderson Real Estate, a leading national investor in senior housing communities. Provision Living, the current operator, will continue to manage the community.

Built in 2000, University Living is made up of 63 assisted living units and 12 memory care units (16 beds). The Property caters to a high-acuity resident and has an impeccable reputation in the PMA for providing excellent quality care. Most recently renovated in 2017/2018, the Property was nominated for a senior housing industry award in Renovation or Repositioning Category. New high-quality modern living spaces, a state-of-the-art exercise room, and extensive amenity packages have elevated the Property to be the market leader. University Living, though not formally affiliated with the University of Michigan, benefits immensely from its strong ties to the Ann Arbor community and close proximity to the University.

The Cushman & Wakefield team involved in the transaction included Vice Chairman Richard Swartz, Executive Director Jay Wagner, Associate Sam Dylag, and Associate Chris Remeika.

“We’re proud to have advised on University Living once again,” noted Swartz. “We were happy to provide a very competitive process to ensure both an excellent value for CSH as well as a satisfying new partnership in the properties between Provision and Kayne.”

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

Cushman & Wakefield’s National Senior Housing Capital Markets team was established in 2011 and advises top institutional owners, developers and operators on equity, debt and investment sales throughout the United States. Located in Boston and Southern California, the team is led by Rick Swartz and Jay Wagner and includes a total of 11 professionals. The team is consistently ranked amongst the top senior housing brokerage groups in transaction value and has executed on greater than $6 billion in transactions.

About Capitol Seniors Housing

Capitol Seniors Housing (CSH) prides itself on placing seniors first by creating comfortable, safe, state-of-the-art communities which residents are proud to call home. Founded on the principles of integrity, trust, and transparency, CSH consistently produces top-quality senior living communities and resident centered life experiences for senior adults.

Based in Washington D.C., CSH is a private equity-backed real estate acquisition, development and investment management firm founded in 2003. Along with our capital partners, a large University Endowment and The Carlyle Group, CSH has successfully acquired or developed more than 90 senior housing communities and deployed over $2.0 billion of investment capital thus far. For more information, please visit www.capitolseniorshousing.com.

Kayne Anderson

Since 2007, KA Real Estate has invested in alternative real estate sectors including medical office, seniors housing, student housing, and self-storage. Our vertically integrated team brings expertise in all aspects of real estate investing and management to each of our investments, thereby maximizing operating capabilities.

With assets under management of $6 billion (of which $3 billion is Kayne Anderson Real Estate Opportunistic Equity Funds, $500 Million in Kayne Anderson Real Estate Core Equity Funds, and $2.5 billion is Kayne Anderson Real Estate Debt Funds), KA Real Estate’s investment objectives are to create strong risk-adjusted returns by focusing on current cash yield and increasing value through cash flow growth, while remaining sensitive to capital preservation.

About Provision Living

Since 2005, St. Louis based Provision Living has focused on using our integrated development, operations and investment platforms to create exceptional places for older adults and their families. With the empowerment, growth and well-being of our team members as our mission, we diligently pursue delivering exceptional value for our elders, their families, our team members and our investors. Our current portfolio of 15 communities is geographically focused in the Midwest and southeast. To learn more about Provision Living, please visit us at provisionliving.com