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Boston & New England  + Metro Boston  + Senior Housing  |  December 20, 2021
Wingate Residences senior living facility in Chestnut Hill, MA
Lisa McDuffie
By: Lisa McDuffie

CushWake Arranges Dual Sale of Senior Living Facilities near Boston

Cushman & Wakefield’s senior housing capital markets team has arranged the sale of Wingate Residences at Boylston Place, a 48-unit assisted living property, and Wingate at Chestnut Hill, a 135-bed skilled nursing facility. Both properties are located on a campus in Chestnut Hill, MA.

The institutional seller was a pension fund investor who is exiting the senior living space. The buyer is a joint venture between Harrison Street, an institutional private equity firm, and LCB Senior Living, LLC, a regional operator who plans to upgrade the existing assisted living building and convert the existing skilled nursing portion to additional assisted living space, memory care and increased common area space.

The transaction represents the fifth in a series of divestitures Cushman & Wakefield has executed on behalf of the seller.

The Cushman & Wakefield team involved in the transaction includes Richard Swartz, Jay Wagner, Dan Baker and Jack Griffin.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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