As exclusive advisor to Torrey Pines Development Group, Cushman & Wakefield Senior Housing Capital Markets has arranged the $12.5 million sale of Vista del Lago a 52 Unit / 96 Bed memory care community in San Diego, CA. The Asset was purchased by CareTrust REIT, Inc a publicly traded real estate investment trust based in San Clemente, CA.
Located in Escondido, a substantial submarket of North County San Diego, Vista Del Lago is a recently renovated community with a thoughtful design and copious amenity space. The single-story property sits on a well-manicured 2.3-acre site and incorporates Spanish and Southwestern architectural elements.
The Cushman & Wakefield team involved in the transaction included Vice Chairman Rick Swartz, Executive Managing Director Jay Wagner, Managing Director Aaron Rosenzweig, Directors Dan Baker and Tim Hosmer and Associate Bailey Nygard.
About Torrey Pines Development:
Torrey Pines Development Group is a San Diego based investment and development company with a diverse background in residential and commercial real estate. The Torrey Pines Development Group team has managed and developed properties throughout the United States. Properties include mixed-use, retail, single and multi-family residential uses, senior care facilities, and special use projects.
About CareTrust REIT, Inc:
CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. More information about CareTrust is available at www.caretrustreit.com
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.
