Welltower has acquired a 220-bed senior living facility in Davie for $34.3 million, signaling its ongoing investment in the South Florida senior care sector.

The property, Oakmonte Village of Davie, located at 8201 Stirling Road, was sold by Royal Senior Care and MG3 Group to Welltower, a publicly traded real estate investment trust (REIT), according to public records and data from Vizzda.

The facility spans an 8.6-acre site and includes two three-story buildings and one single-story structure. Completed in 2017, the development was a joint effort between Aventura-based firms Royal Senior Care, headed by Avi Bittan, and MG3 Group, led by Marcelo Saiegh, Gustavo Bogomolni, and Hernan Leonoff.

Oakmonte provides a mix of senior care services, including assisted living, memory care for individuals with cognitive conditions, and independent living with support as needed.

Welltower, helmed by CEO Shankh Mitra, owns a vast network of over 1,500 senior and wellness communities across the U.S., U.K., and Canada. The company is valued at $94.2 billion and operates offices in Palm Beach Gardens, New York, Dallas, Toledo, London, and Toronto.

Previously, in 2020, Welltower sold the Aston Gardens Senior Living community in Parkland for $55.7 million. The year before, it acquired a 54,500-square-foot medical office in Coral Springs for $18.4 million, as part of a $1.25 billion deal with CNL Financial.

Senior living properties continue to be active in South Florida’s real estate market, driven by the region’s appeal to retirees and its range of specialized elder care facilities.

Source:  The Real Deal