WALNUT CREEK, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of
Tiffany Court (top left photo), a 57-unit assisted living facility located in Walnut Creek, approximately 32 miles east of San Francisco. The sales price of $11.3 million represents $198,246 per unit.
Rob Reis (lower right photo), a senior associate in Marcus & Millichap’s San Francisco office, represented the buyer, a national owner/operator, and the seller, a local developer.
“Tiffany Court has an outstanding reputation in the community,” says Reis. “The property was developed, owned and operated by the seller. The facility opened the week before Thanksgiving in November 1996 and was fully leased in three and one-half months,” adds Reis.
Located at 1866 San Miguel Drive in a prime central Walnut Creek location, the 66-bed property is surrounded by single-family residential development and medical office buildings. Rossmoor, a 6,700-unit retirement community is located nearby, as is a pharmacy that bubble-packs medication.
Kaiser Permanente Walnut Creek, a 233-bed hospital, is located 0.4 miles southwest of the property and the 327-bed John Muir Medical Center is located 1.5 miles to the northeast.
Tiffany Court was 95 percent occupied at the time of the sale. All units include a full bath with shower, a patio or porch and a kitchenette.
Contact: Stacey Corso, Public Relations Manager, (925) 953-1716
1 comment:
Assisted living communities tend to be more like traditional homes or condos, making the transition from home to the senior care facility an easier one. These are a great option for many seniors. Thanks a lot.
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