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Cushman & Wakefield Negotiates Sale of NJ Retirement Community

| May 18, 2016 | 0 Comments

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Franciscan community

 

 

 

 

 

Media Contact: Evelyn Weiss Francisco: evelyn@caryl.com / (201) 796-7788 / www.twitter.com/carylcomm

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DENVILLE, N.J., May 18, 2016 – Cushman & Wakefield announced today that it has negotiated the sale of Franciscan Oaks, an entrance fee continuing care retirement community in Denville, NJ.

Based in Cushman & Wakefield’s Tampa office, Executive Managing Director Allen McMurtry, Senior Managing Director Megan Fetter and Senior Managing Director David Kliewer represented seller Catholic Health Initiatives in the disposition.

The buyer was Springpoint Senior Living, New Jersey’s largest non-profit provider of housing and services for seniors. Springpoint currently manages a portfolio of six continuing-care retirement communities,18 affordable-housing communities and home-care services.

Franciscan Oaks is situated on ±14 acres at 19 Pocono Road in Denville. The facility features 285 independent living apartments, 33 assisted living units and an 84-bed skilled nursing facility. Franciscan Oaks is adjacent to Saint Clare’s Hospital Denville and located less than one hour west of Manhattan via Interstate 80.

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About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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Category: Cushman & Wakefield of New Jersey, News Releases, Newswire: Latest News

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