Welltower has picked up a Denver, Colorado senior living property to the tune of $118 million, or roughly $581,000 per unit. Originally built by the seller, AEW, in late 2014 for approximately $74 million, the community featured 203 total units with a mix of independent living, assisted living and memory care and was operated by Balfour Senior Living.
AEW had purchased the land back in 2012 for $9.4 million. It is located in a highly desirable downtown Denver neighborhood adjacent to the 17-acre Confluence Park, which can help explain its high per-unit value.
