LAS VEGAS – Cushman & Wakefield Senior Housing Capital Markets (C&W), exclusively advising Cortland, arranged the portfolio sale to Welltower Inc. (NYSE: WELL) of three active adult / 55+ apartment communities totaling 620 units located in Las Vegas, Nev.
The three communities were known as Attiva Valley View, Attiva Court, and Attiva Winterhaven but will be rebranded by the new owner. Cortland completed a thoughtful and strategic renovation of all units and common areas after taking ownership in 2016. Additionally, Cortland implemented its Elevate fitness program to further enhance the residents’ active lifestyles.
The Cushman & Wakefield team that led the transaction included Executive Director Carl Sims and Director Taylor Sims. Additional advisors included Vice Chairman Rick Swartz, Executive Managing Director Jay Wagner, Managing Director Aaron Rosenzweig, Associate Sam Dylag, and Analyst Jack Griffin.
“The portfolio represents a unique concentrated critical mass of newly renovated active adult communities,” said Sims. “The renovations were successful and attractive to today’s active adult resident.”
“We’re extremely pleased with the Cushman & Wakefield team’s process and results in the sale of this portfolio,” said Brad Brown, Cortland’s Chief Acquisitions Officer. “We saw untapped potential in the three properties and executed a strong plan to improve the communities.”