Kisco Senior Living Acquires 201-Unit Senior Housing Property in Laguna Niguel for $115MM 

Laguna Niguel, Cushman & Wakefield, Fremont Realty Capital, Steadfast Development, Crestavilla, Kisco Senior Living

(EDITOR’S NOTE: According to public records, the property was sold for $115 million, or about $572,139 per unit.)

LAGUNA NIGUEL, Calif., ––  Cushman & Wakefield, as exclusive advisor to a joint venture between Fremont Realty Capital and Steadfast Development, has arranged the sale of Crestavilla, a trophy senior housing asset located in affluent Laguna Niguel, California. 

Opened in 2018, Crestavilla is an upscale senior housing property that features 201 units of independent living, assisted living and memory care with luxurious finishes. The LEED Gold certified asset features an abundance of amenities including three dining rooms, two fitness areas, an outdoor pool and spa and a spectacular 12,000-square-foot rooftop amenity space. 

Cushman & Wakefield also represented the buyer in procuring its acquisition financing, which was provided by a national bank. Crestavilla was acquired by affiliates of Kisco Senior Living and Harrison Street as the advisor to an institutional investor. 

Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard handled the transaction.

“We are very pleased to deliver a strong execution for the seller on one of the most exceptional and upscale senior housing assets in the country,” said Rosenzweig. 

About Fremont Realty Capital:

Fremont Realty Capital is the real estate private equity business unit of the Fremont Group, the investment office of the Bechtel family of San Francisco. Since formation in 1997, Fremont Realty Capital has provided investors with superior risk-adjusted returns and value-creation through investments in non-traditional and traditional real estate sectors, both domestically and abroad.  Our success results from a disciplined investment strategy, enduring relationships with best-in-class operating partners, and the collective experience of the firm’s principals. The firm has made investments in more than 13 countries across the United States and Europe over 25 years totaling more than $5 billion of total capitalization.

About Kisco Senior Living

Kisco Senior Living, based in Carlsbad, California, operates 21 full service senior living communities in six states offering independent living, assisted living and in some locations, memory care and skilled nursing. Kisco is proud to expand their portfolio to include their new Signature Communities with an elevated delivery of five-star hospitality. Signature Communities are purposefully designed to create a unique environment with expanded levels of services, amenities and experiences designed to empower, enrich and enhance residents’ lives to pursue their passion and purpose. For more than 30 years, Kisco Senior Living has specialized in developing and managing full-service senior living communities with a portfolio featuring a wide spectrum of individualized services and lifestyle options. Our unique approach and philosophy, called Kisco Confidence, is centered on giving residents and associates peace of mind knowing that our communities deliver on safety and security, trust and transparency, health and wellbeing and a 5-star lifestyle experience.

About Harrison Street

Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets. Since inception in 2005, the firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets. The firm has invested across senior housing, student housing, healthcare delivery, life sciences and storage real estate as well as social and utility infrastructure. Headquartered in Chicago with offices in San Francisco, London, Toronto and Washington DC the firm has more than 200-employees and approximately $46 billion in assets under management. Clients of the firm include a global institutional investor base domiciled in North America, Europe, Middle East, Asia and Latin America. Harrison Street was awarded Best Places to Work by Pensions & Investments for seven consecutive years (2014-2020) and was recognized by PERE as the 2021 Alternatives Investor of the Year, North America and 2020 Global Alternatives Investor of the Year.

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 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services.

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 14 professionals. The team is consistently ranked amongst the top senior housing brokerage groups in transaction value and has executed on greater than $8 billion in transactions.