Cushman & Wakefield’s Tampa-based Senior Housing Team has arranged the sale of The Watermark at Trinity Independent Living, a 117-unit, Class A senior living community located within The Watermark at Trinity campus to Kayne Anderson Real Estate of Boca Raton, Florida. The Cushman & Wakefield team led by Allen McMurtry and David Kliewer represented the development group comprised of Walt Chancey of Gulf Coastal Development, Ricky Rookis of Rookis Development and Watermark Retirement Communities, in the sale.
The newly constructed five-story Independent Living building is located at 1960 Blue Fox Way in Trinity, Florida, a high-growth submarket of Tampa, and was sold upon the project obtaining its Certificate of Occupancy. The property is adjacent to a 97-unit Assisted Living and Memory Care building constructed by the same development partnership in 2016.
The Independent Living building offers one- and two-bedroom units ranging from 737 to 1,162 square feet. Amenities include spacious dining venues, a luxury outdoor pool and well-appointed common spaces with high-end finishes. The project featured a leading-edge design by Chancey Architecture and Chancey Interior Design. The Chancey team has partnered with Rookis Development on several other highly successful senior living projects, in addition to numerous other product types throughout the United States.
“The Watermark at Trinity campus was designed and developed by a highly respected and experienced team, in partnership with a best-in-class operator,” said Kliewer. “The sale of the Independent Living building completes a multi-phased transaction which achieved an optimal outcome for all parties. With Watermark continuing to operate both the Independent Living and Assisted Living/Memory Care buildings for the buyer going forward, the campus is well-positioned for future success.”
Cushman & Wakefield’s National Senior Housing Capital Markets team has represented a full spectrum of sellers in over 190 transactions across the country since 1986. Located in Tampa, Florida, the team is led by Allen McMurtry, David Kliewer and Jay Jordan.