Colorado-Real-Estate-Journal_423399
October 2-15, 2024 - Page 19 www.crej.com Health Care 303-573-5678 Pete Gillespie, President Bill Brauer, General Manager info@ejcm.com Office | Medical | Specialty COMMERCIAL CONSTRUCTION MANAGEMENT | EJCM.COM W E B U I L D B E A U T I F U L I N T E R I O R S by Avalon Jacka COLORADO – An Ohio- based real estate investment trust completed its purchase of a nearly $1 billion active adult portfolio first announced in February. Welltower Inc. acquired the 25-property portfolio, includ- ing some Colorado properties, from Affinity Living Commu- nities for $969 million in off- market transactions. Welltower also formed a long-term strate- gic partnership with Affinity, which will continue to manage the portfolio. The portfolio is comprised of nearly 3,900 units primarily located in the Pacific Northwest. Entities affiliated with Affin- ity sold four properties to enti- ties with an address affiliated with Welltower in separate transactions in August, accord- ing to SKLD Information Ser- vices. The sales included 3755 Tutt Blvd. in Colorado Springs for $37.24 million, 4201 Corbett Drive in Fort Collins for $42.42 million, 860 W. Baseline Road in Lafayette for $26.71 million, and 3415 N. Lincoln Ave. in Loveland for $38.94 million. A representative for Welltower did not respond to requests for comment on specifics about the Colorado properties. “Our Wellness Housing port- folio helps address the sig- nificant and growing unmet demand for wellness-focused rental housing for seniors,” Welltower CEO Shankh Mitra said in a statement when the deal was announced in Feb- ruary. “These communities provide thoughtful amenities and targeted social program- ming for empty nesters and active adults at moderate price points.” Affinity communities typi- cally include 30,000 square feet of amenity space and offer extensive resident-led pro- gramming. The communities have an average monthly rent of $2,100 and an average length of stay of four years. The acquisition brings Well- tower’s in-place and under- development portfolio to nearly 25,000 units. Welltower invests in senior housing, post- acute communities and outpa- tient medical properties. The firm owns interests in proper- ties in major, high-growth mar- kets in the U.S., Canada and the U.K. Other News n LITTLETON – A cancer care practice signed a lease for 2,332 square feet of medical office space north of the South Broadway-C-470 interchange. Complete Cancer Rehab signed a long-term lease for Suites 202 and 207 in the Broad- way Medical Center, located at 8089 S. Lincoln St. The lease will begin in November. The practice will relocate from its current location at 8000 S. Lincoln St. and will continue to provide oncology rehabili- tation, lymphedema therapy, physical therapy, and fitness services. The landlord, 8089 Lincoln Street LLC, was represented by David Marulli and Nick Beach of Trevey Commercial Real Estate in the direct deal with the tenant. The property includes 24-hour access; high visibil- ity along South Broadway; a recently renovated lobby, rest- rooms and parking lot; and proximity to restaurants, retail and hotels, according to a LoopNet listing. s Welltower buys $1B portfolio, including 4 Colo. properties Complete Cancer Rehab moved its practice down the street from its pre- vious location into Broadway Medical Center, located at 8089 S. Lincoln St., Suites 202 and 207. 'Our Wellness Housing portfolio helps address the significant and growing unmet demand for wellness focused rental housing for seniors. These communities provide thoughtful amenities and targeted social programming for empty nesters and active adults at moderate price points.' – Welltower CEO Shankh Mitra
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