June 23, 2021 9:00 AM
Newmark announces the sale of two best-in-class active adult communities, Attiva Denton and Attiva Park, located at 2801 Spencer Road in Denton and 3850 Silverton Circle in Fort Worth, Texas. The properties total 402 units–Attiva Denton’s 240 units and Attiva Park’s 162 units. Newmark Co-Heads and Vice Chairmen of the company’s Healthcare and Alternative Real Estate Assets Group Ryan Maconachy and Chad Lavender represented the seller, Cortland, in the sale.
“These properties offered investors the opportunity to acquire active adult assets targeting the middle-market senior resident, which is one of the fastest growing demographics in the seniors housing industry,” said Maconachy. “Both located in the Dallas-Fort Worth MSA, the properties represent an excellent long-term strategic investment opportunity.”
Located near the heart of the city of Denton, Attiva Denton is proximate to Denton Crossing West Shopping Center and Golden Triangle Mall. The property’s newly renovated units include stainless steel appliances, granite countertops and washer and dryer and the community features include a movie theater, resident lounge and Wii® activity center. Just outside Fort Worth, Attiva Park offers abundant opportunity for shopping, dining and recreation at Hulen Mall or Candleridge Park. Luxury unit features include granite countertops and crown molding and community amenities include a resident lounge and an outdoor lounge.
According to Newmark Research, the seniors housing industry is changing with the demographics in the U.S.–with 3.2 million households in the 65-75 age cohort being renters compared to the existing market rate stock of 60,000 active adult units.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Our comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, growing startups to leading companies. In 2020, Newmark generated revenues in excess of $1.9 billion. Newmark, together with London-based partner Knight Frank and independently owned licensees, operates globally from approximately 490 offices with 19,300 professionals. To learn more, visit nmrk.com or follow @newmark.
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