Shankh Mitra Of Welltower Acquires 339-Unit Senior Housing In Woodland Hills For $230.28M

The asset involved in this transaction is a senior housing property located at 6233 Variel Avenue, Woodland Hills, CA. The sale of this property was completed for $230,280,000, which translates to approximately $679,292 per unit. The development covers an area of 2.7 acres and features 339 units, incorporating independent living, assisted living, and memory care units, with operations provided by Momentum Senior Living.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $230,280,000
• Units: 339
• Price Per Unit: $679,292
• Buyer: Shankh Mitra - Welltower
• Seller: Harbert South Bay
• Market: Woodland Hills, CA
• Year Built: 2022
• Acreage: 2.7 acres

Shankh Mitra represented Welltower in this acquisition, while Harbert South Bay was the selling party. The strategic purchase adds to Welltower's portfolio in the senior living sector.