Springpoint Acquires Franciscan Oaks CCRC in Denville, NJ

Franciscan Oaks, 19 Pocono Road, Denville, NJ

DENVILLE, NJ— Springpoint Senior Living , one of New Jersey’s largest non-profit providers of housing and services for seniors, has acquired Franciscan Oaks , an entrance fee continuing care retirement community in Denville, NJ. Cushman & Wakefield’s  Tampa, FL-based team of executive managing director  Allen McMurtry , senior managing director  Megan Fetter  and senior managing director  David Kliewer  represented seller  Catholic Health Initiatives  in the disposition. Springpoint currently manages a portfolio of six continuing-care retirement communities,18 affordable-housing communities and home-care services. Franciscan Oaks is situated on about 14 acres at  19 Pocono Road  in Denville. The facility has 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.