KKR buys Gilbert senior living property for $52.3M
An entity linked to Kohlberg Kravis Roberts & Co. acquired the Watermark at Morrison Ranch senior living property in Gilbert for $52.3 million on Dec. 18, according to commercial real-estate website vizzda.com.
It has rebranded as Cogir of Morrison Ranch as a result.
The seller was an entity associated with PGIM Real Estate. The transaction included a $2 million down payment and a $33.995 million Freddie Mac loan originated through Jones Lang LaSalle. The loan matures Jan. 1, 2036.
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An entity linked to Kohlberg Kravis Roberts & Co. acquired the Watermark at Morrison Ranch senior living property in Gilbert for $52.3 million on Dec. 18, according to commercial real-estate website vizzda.com.
It has rebranded as Cogir of Morrison Ranch as a result.
The seller was an entity associated with PGIM Real Estate. The transaction included a $2 million down payment and a $33.995 million Freddie Mac loan originated through Jones Lang LaSalle. The loan matures Jan. 1, 2036.
The deal was part of a portfolio sale totaling $112.3 million for two senior living facilities in Maricopa County.
Cogir of Morrison Ranch, located at 3333 E. Morrison Ranch Parkway, is a 115-unit assisted living facility. The property includes one building totaling 98,956 square feet, built in 2017 on 4.59 acres zoned general commercial, according to assessor records.
KKR real estate acquisition,
Gilbert senior living property sale,
Cogir of Morrison Ranch deal,
Maricopa County portfolio transaction,
PGIM Real Estate sale,
Freddie Mac loan Jones Lang LaSalle
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