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SAN DIEGO COUNTY, CALIF. — Marcus & Millichap has brokered the sale of a seven-building memory care campus in San Diego County. Developed in 2002, the property contains more than 55 units licensed for over 85 residents. The community was operating with negative net operating income (NOI) at the time of sale.
Nick Stahler, Justin Knapp, Michael Mooney and Hap Knowles of Marcus & Millichap’s Knapp-Stahler Group arranged the transaction. An undisclosed, all-cash buyer acquired the community from a publicly traded REIT for roughly $170,000 per unit.