Cushman & Wakefield Senior Housing Capital Markets has completed the sale of Kirkwood Orange, a 48 unit (59 bed) assisted living and memory care community located in the attractive and affluent suburb of Orange, California within Orange County.

The seller was a joint venture between Cadence Living and an institutional joint venture equity partner who collectively acquired the community in 2017 from a non-profit. Originally constructed in 1999, the sellers executed a renovation and stabilization plan after acquisition. MBK Senior Living, a national owner/operator headquartered nearby, acquired the community in an all cash transaction after a competitive process.

The Cushman & Wakefield team involved in the transaction included Vice Chairman Richard Swartz, Executive Managing Director Jay Wagner, Managing Director Aaron Rosenzweig, Director Dan Baker, and Associate Bailey Nygard.

“This is an institutional quality, recently renovated community with remaining upside in an affluent location, said Aaron Rosenzweig, managing director at Cushman & Wakefield. “We were proud to execute on behalf of the seller and to further expand our relationship with MBK.”

About Cadence Living

Established in Scottsdale, Arizona in 2016, Cadence Living is an owner, operator and developer of senior living communities across the South and West in the United States. Cadence Living’s team of professionals are devoted to providing high-quality living environments focused on health, wellness and living styles that respect individual preferences while providing supportive services to help people live their best life. For more information, visit www.cadencesl.com

About MBK Senior Living

MBK Senior Living owns, operates and develops senior living communities providing standalone services or a combination of Independent Living, Assisted Living and Memory Care services. For over 20 years, they have focused on building an experienced operations team whose skilled management adds value to both their existing community assets and new acquisitions.

Based in Irvine, CA, MBK Senior Living is a subsidiary of MBK Real Estate LLC which is supported by the vast financial strength and global resources of its parent company, Mitsui & Co., Ltd. MSL is a low-leverage, high-equity investor with the ability to complete an all-cash transaction based on the particular opportunity at hand. They are actively seeking acquisition and development opportunities throughout the Western United States. For more information, please visit the Company's website at www.mbkseniorliving.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 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 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.