Kayne Anderson, Watermark Offload Tucson-Area Assisted Living Center

Welltower acquired Cogir at Continental Ranch, an assisted living and memory care community located at 8689 N Silverbell Road in Marana, Arizona. The $22.2 million acquisition came out to $205,991 a unit.

The seller, Kayne Anderson Real Estate, developed the project in partnership with Watermark Senior Living and held the property until this transaction.

Built in 2018, the two-story building has 118 beds and 101,782 square feet. It is on 3.99 acres along Silverbell Road and Continental Reserve Loop. Residences include studio, one-bedroom, and two-bedroom layouts, complemented by a full suite of amenities such as a commercial kitchen and dining hall, fitness center, salon, theater, landscaped courtyards, and specialized memory care wings.

Welltower invests in senior housing, post-acute communities, and outpatient medical properties in major, high-growth markets in the U.S., Canada, and the U.K.