Marcus & Millichap arranged the sale of Canyon Villas, a 122-unit, 122-operating bed, independent living, assisted living and memory care facility with 133 licensed beds in the Clairemont neighborhood of San Diego. Pricing was not disclosed.

“Our marketing process on Canyon Villas generated multiple high-quality offers and provided the buyer with a compelling value-add opportunity in a highly sought after San Diego submarket,” said Hap Knowles, director investments in Marcus & Millichap’s Orange County office. “With improving operational efficiencies and meaningful rent growth potential, the community is well-positioned to deliver steady, long-term cash flow and a strong foundation for future value creation.”

Knowles, Nick Stahler, and Michael Mooney of Marcus & Millichap, in association with Tony Solomon, Marcus & Millichap’s California broker of record, represented the seller, San Diego Christian Foundation, and procured the buyer, a regional private equity group in a joint venture with a local operator.

The post JV Acquires Seniors Facility in San Diego’s Clairemont Neighborhood appeared first on Connect CRE.