An S&P 500 investor that focuses on senior and wellness properties bought the Silver Creek assisted living and memory care community in St. Augustine on Dec. 19.
Welltower Inc. of Toledo, Ohio, acquired the property at 165 Silver Lane for $46.5 million through 165 Silver Lane Propco LLC. According to welltower.com, the company owns more than 2,000 properties in the U.S., Canada and the United Kingdom.
ValStone Partners of Birmingham, Michigan, sold the property through VS St. Augustine LLC. ValStone is a private equity firm specializing in real estate and debt.
The Silver Creek community was built in 2016 on 21.34 acres.
The 119,853-square-foot facility offers independent and assisted living with memory care. It has 138 units, resulting in an average unit sale price of $336,956.
The center includes a restaurant-style dining room, activity room, gym and hair-styling service and provides on- and off-campus activities.
It last sold in 2020 for $51.59 million.