Cushman & Wakefield Senior Housing Capital Markets exclusively advised an affiliate of Sentio Investments on the sale of The Pointe at Ocean Boulevard to an affiliate of Waypoint Real Estate Investments (Waypoint), a vertically integrated real estate investment firm specializing in the U.S. rental housing sector, for $22.2 million. The independent living property is located in Stuart, Florida, a beachfront community on Florida’s Treasure Coast. Arrow Senior Living will continue to manage the community.
The Pointe at Ocean Boulevard is a 150-unit community located directly on the highly trafficked SE Ocean Boulevard, nearby both the waterfront and downtown Stuart. The Pointe was built in 1986 and recently completed an extensive, multi-million-dollar renovation that included resident units as well as common areas. The property features an impressive collection of amenities and an extensive array of activities catering to active seniors.
“We are very excited to add The Pointe to Waypoint’s growing portfolio of senior housing properties,” said Wesley Lacefield, Waypoint’s Vice President of Acquisitions. “We anticipate that the property will continue to perform at a high level and deliver exceptional value to our investors.”
“Our objective has always been to give the residents of The Pointe beautiful and affordable apartment homes, while providing our investors with superior, risk-adjusted returns. This transaction and the multi-year renovation that preceded it mark the completion of these goals. I’m confident The Pointe residents will continue to enjoy their community for many years to come.”, said John Mark Ramsey, CEO of Sentio Investments.
The Cushman & Wakefield team involved in the transaction included Vice Chairman Richard Swartz, Executive Managing Director Jay Wagner, Director Tim Hosmer, Associate Chris Remeika and Analyst Jack Griffin.
“The Pointe is a steadfast member of the Stuart community with a recent renovation and very strong performance. The community is in an advantageous position and we expect it to be a great performer for Waypoint,” said Jay Wagner, Executive Managing Director at 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 and includes a total of 12 professionals. The team is consistently ranked amongst the top senior housing brokerage groups in transaction value.
About Sentio Investments
Sentio is a leading capital provider to operators and developers in the healthcare real estate space. The firm has extensive experience acquiring and developing healthcare real estate across the country. Sentio provides investors with a turn-key solution for deploying capital into the healthcare real estate sector via their integrated approach to deal origination, asset management,accounting,and investor relations. To learn more visit www.sentioinvestments.com.
