As exclusive advisor to Auctus Capital Partners, Cushman & Wakefield Senior Housing Capital Markets has secured a first mortgage to refinance The Landing at Carmichael, a newly renovated 98-unit independent living community located in Carmichael, California.

The community is located at 7125 Fair Oaks Boulevard just north of Carmichael Park, is operated by Altum Senior Living. Originally constructed in 1975, the community underwent a strategic renovation and conversion in 2018.

Regions Bank’s healthcare real estate finance group provided the first mortgage loan to refinance the existing debt.

Auctus acquired the Community in 2015. At the time the property needed renovations and Auctus proceeded with a comprehensive capital improvement plan and also repositioned the community.

The Cushman & Wakefield team involved in the transaction included Managing Director Aaron Rosenzweig, Associate Sam Dylag, Vice Chairman Rick Swartz and Executive Managing Director Jay Wagner. “We’re pleased with the results from the market and Regions’ response. Regions and the team were great to work with and we’re pleased to have arranged a new relationship between a leading lender, Auctus and Altum,” said Rosenzweig.

About Auctus Capital Partners:

Auctus Capital Partners (“ACP”) is a real estate investment company that was founded in late 2014. ACP’s stated purpose is investing in commercial real estate, with an emphasis on senior housing and multifamily assets. ACP’s team have over $4 billion in commercial real estate investment and institutional partnership experience.

About Cushman & Wakefield:

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. The team is consistently ranked among the top senior housing brokerage groups in transaction volume.