Kayne Anderson, Watermark Offload Tucson-Area Assisted Living Center
Welltower acquired Cogir at Continental Ranch, an assisted living and memory care community located at 8689 N Silverbell Road in Marana, Arizona. The $22.2 million acquisition came out to $205,991 a unit.
The seller, Kayne Anderson Real Estate, developed the project in partnership with Watermark Senior Living and held the property until this transaction.
Built in 2018, the two-story building has 118 beds and 101,782 square feet. It is on 3.99 acres along Silverbell Road and Continental Reserve Loop. Residences include studio, one-bedroom, and two-bedroom layouts, complemented by a full suite of amenities such as a commercial kitchen and dining hall, fitness center, salon, theater, landscaped courtyards, and specialized memory care wings.
Welltower invests in senior housing, post-acute communities, and outpatient medical properties in major, high-growth markets in the U.S., Canada, and the U.K.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout