CARMICHAEL, CALIFORNIA — Auctus Capital Partners has acquired Chateau at Carmichael Park, a 99-unit independent living, assisted living and memory care community in the Sacramento suburb of Carmichael, for an undisclosed sum.
Cushman & Wakefield Senior Housing Capital Markets arranged the first mortgage acquisition financing for Auctus, a private real estate firm based in San Diego. Owens Financial, a San Francisco-based lender, provided the loan.
Chateau at Carmichael Park is a two-story community that was built in 1975. Auctus plans to make physical improvements to both the interior and exterior of the building. Integral Senior Living will operate the community.
The non-recourse financing capitalized both the acquisition as well as the planned capital improvements to the community. Aaron Rosenzweig, a senior director from Cushman & Wakefield, arranged the transaction.
Original Article: rebusinessonline.com