Soaring demand for senior housing and assisted living facilities in the Bay Area is pushing sale prices for these facilities to record levels.
Healthcare REIT Welltower this week purchased a 187-unit assisted living campus in Walnut Creek from PGIM and Kisco Senior Living for $101M, or about $540K per unit.
The PGIM and Kisco joint venture bought the Byron Park complex in 2017 for $77M. Kisco completed a $5M renovation on Byron Park last year.
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