BOSTON—In a deal arranged by Cushman & Wakefield'sSenior Housing Capital Markets Group, LCB SeniorLiving LLC of Norwood, MA has secured $82.4 million infinancing and joint venture equity capital for the purchase of atwo-property senior housing portfolio in Shelburne and Middlebury,VT totaling 322 units.
Virtus Real Estate Capital, a real estateprivate equity firm based in Austin TX, provided $25.4 million injoint venture equity, while PNC Bank provided $57million in first mortgage acquisition financing, Cushman &Wakefield reports.
Cushman & Wakefield's Executive Managing DirectorRichard Swartz, Managing Director JayWagner, Director Aaron Rosenzweig andAssociate Stuart Kim directed the capitalplacement efforts for the transaction.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
