Sale Deals of the Week: Senior Living Portfolio Trades for $1B
The top five sales across the country from Feb. 12 to Feb. 16.
By The Editors February 16, 2024 10:00 am
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Amid a slowing investment sales market, the safe bets appear to be senior living projects, affordable housing and schools. Welltower acquired 3,900 senior living apartments in the Pacific Northwest for nearly $1 billion from Affinity Living Communities, notching the largest deal of the week. Howard County Housing Authority in Maryland acquired a 240-unit rental complex in Ellicott City for $63 million, followed on our list by a much smaller, $24 million sale for a senior care facility in Van Nuys, Calif.
| Amount | Address | Buyer | Seller | Brokers | Asset |
|---|---|---|---|---|---|
| $969 million | 25-property portfolio in the Pacific Northwest | Welltower | Affinity Living Communities | N/A | Senior Living |
| $339 million | 1201 Wilson Boulevard, Arlington, Va. | CoStar Group | JBG Smith (JBGS) and PGIM Real Estate | N/A | Office |
| $63 million | 3411 Sonia Trail, Ellicott City, Md. | Howard County Housing Authority | CREC Real Estate | N/A | Residential |
| $48 million | 17985 Biscayne Boulevard, Aventura, Fla. | Elysee Investment Company | The Klompus family | Cushman & Wakefield's Mark Gilbert, Adam Feinstein and Mitchell Halpern | Retail |
| $24 million | 6700 Sepulveda Boulevard, Van Nuys, Calif. | California Healthcare & Rehabilitation Center | Pinnacle Holdings of Florida | Avison Young's Peter Sherman | Senior Living |
Sales of the week reflect deals closed or announced from Feb. 12 to Feb. 16. Information on sales can be sent to editorial@commercialobserver.com.
Deals of the Week, Affinity Living Communities, California Healthcare & Rehabilitation Center, Cove Capital Investments, CREC Real Estate, JBG Smith, PGIM Real Estate, Pinnacle Holdings of Florida
