Colorado-Based Senior Retirement Community Trades for $32M
The sale of the property between a private investor and owner operator and the new owner, a Chicago-based private equity firm, was reported by brokerage firm Marcus & Millichap.
WESTMINSTER, CO—The San Marino Retirement Community, a 185,871-square-foot independent living, assisted living, and memory care community here, has traded for $32.39 million.
The sale of the property between a private investor and owner operator and the new owner, a Chicago-based private equity firm, was reported by brokerage firm Marcus & Millichap.
“The new owner plans to significantly renovate the campus and improve occupancy, which was 90% at the time of sale,” says Sam Thompson of Marcus & Millichap’s Portland office.
Thompson and Tony Cassie, first vice president investments in Marcus & Millichap’s Portland office, facilitated the transaction.
Bob Kaplan, vice president and regional manager in Denver is the firm’s broker of record in Colorado. The five-building San Marino Retirement Community was built in stages on a 9.3-acre parcel between 1987 and 1999.