A shuttered Cogir community in Seattle, Washington, sold to a local private real estate company with the help of Kidder Mathews’ Simon and Anderson team, which included Dylan Simon, Matt Laird and JD Fuller. The property was on Welltower‘s most recent published property list.
Formerly known as Cogir of Northgate, the 121-unit community is located about 15 minutes north of downtown Seattle. Built in 1962, it previously offered independent living and assisted living services but closed and was sold 100% vacant with no historical operations. The marketing campaign yielded 45 tours and 19 offers, and the deal closed just 22 days from contract signing. The purchase price came to $19 million, or $157,000 per unit.
