Shankh Mitra Of Welltower Acquires Senior Housing Facility In Aventura For $46.88M From Avi Bittan

The property asset involved in this transaction is a senior housing facility located at 2940 Northeast 207th Street in Aventura. The facility is known as the Barclay at Parksquare, featuring 141 units and a total square footage of 153,977. The sale was finalized for a price of $46,880,000, which translates to a price per unit of $332,482 and a price per square foot of $304.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $46,880,000
• Buyer: Shankh Mitra - Welltower
• Seller: Avi Bittan - Royal Senior Care
• Units: 141
• Square Footage: 153,977
• Price Per Unit: $332,482
• Price Per Square Foot: $304

This transaction marks Welltower's acquisition of the facility from Royal Senior Care’s affiliate, signifying the property’s first sale since its completion in 2018. The deal aligns with Welltower’s strategic focus on expanding in the senior living sector, particularly within the Aventura Parksquare mixed-use district.