WESTMINSTER, Colo. — Marcus & Millichap has arranged the sale of San Marino Retirement Community, a 185,871-square-foot independent living, assisted living, and memory care community in Westminster, just north of downtown Denver.
A private investor and owner-operator sold the property to a Chicago-based private equity firm for $32.4 million. The five-building community was built in stages on 9.3 acres between 1987 and 1999.
“The new owner plans to significantly renovate the campus and improve occupancy, which was 90 percent at the time of sale,” says Sam Thompson of Marcus & Millichap’s Portland office.
Thompson and Tony Cassie facilitated the transaction.