Dealmaker: Cushman & Wakefield Arranges $20M Senior Housing Sale

(River Glen of St. Charles, St. Charles, Ill.)

Cushman & Wakefield, Chicago, advised Bridge Investment Group when it sold River Glen of St. Charles, a senior housing community in St. Charles, Ill.

Citrine Senior Communities, a joint venture between affiliates of Citrine Investment Group, Wilmington, Del., and Jaybird Capital, Coraopolis, Pa., acquired the community for $20 million. Jaybird Senior Living will manage the community.

Cushman & Wakefield Vice Chairman Rick Swartz, Executive Managing Director Jay Wagner, Managing Director Aaron Rosenzweig and Senior Directors Tim Hosmer and Jack Griffin arranged the transaction. 

The 106-unit River Glen of St. Charles includes high-end independent living townhomes as well as a central assisted living and memory care style building, a fitness center, aviary and library. A portion of the asset occupies the 1939-vintage Delnor Hospital.