Marcus & Millichap Closes Sale of Bay Area Assisted Living

Marcus & Millichap recently closed the sale of Mission Villas, a 34-unit assisted living property with more than 50 beds in Daly City. The property sold for $10.65 million, or $313,235 per unit.

“Investor demand for well-located senior housing communities continues to strengthen as the sector benefits from favorable demographic trends and limited new development,” said Nick Stahler, managing director investments. “This transaction generated multiple competitive offers, with buyers placing a premium on stabilized assets in highly affluent submarkets. In today’s ever-evolving market, facilities with established operations in supply-constrained markets remain especially attractive as rates continue to grow, occupancy recovers and long-term demand increases.”

Stahler, in Marcus & Millichap’s Orange County office, marketed the property on behalf of the seller, a regional owner-operator. He also procured the buyer, also a regional owner-operator.

Nearby amenities include Zuckerberg San Francisco General Hospital, Seton Medical Center, Mission Plaza Shopping Center and San Bruno Mountain State and County Park. The property also provides access to major Bay Area transportation corridors.