Welltower Acquires Silver Creek Student Housing In St. Augustine For $46.5 Million

The property asset involved in this transaction is a 138-unit student housing facility located at 165 Silver Lane in St. Augustine. The asset spans 21.34 acres, with a total square footage of 119,853. The sale price for the property was $46,500,000, resulting in a price per unit of $336,957 and a price per square foot of $388.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $46,500,000
• Units: 138
• Square Feet: 119,853
• Price Per Unit: $336,957
• Price Per Square Foot: $388
• Buyer: Shankh Mitra - Welltower
• Seller: Gerald C. Timmis III, Larry E. Jennings Jr. & Eric R. Abel - ValStone Partners
• Date of Transaction: 12/19/2025
• Market: St. Augustine

This transaction notably involved Shankh Mitra as the representative for Welltower, acquiring the property from the sellers, who are members of ValStone Partners. The property last changed hands in 2020 for $51.59 million, indicating its historical valuation and the evolving real estate dynamics in the student housing market.