SAN DIEGO, CA — Nick Stahler, Hap Knowles, and Michael Mooney of The Knapp-Stahler Group are pleased to announce the successful sale of Canyon Villas, a 122-unit, 122-operating-bed independent living and assisted living community located in San Diego, California. The transaction highlights significant investor demand for well-positioned, value-add senior housing investment opportunities in high-barrier-to-entry coastal markets.
“Our marketing process on Canyon Villas generated multiple high-quality offers and provided the Buyer with a compelling value-add opportunity in a highly sought after San Diego submarket,” said Hap Knowles, director investments in Marcus & Millichap’s Orange County office. “With improving operational efficiencies and meaningful rent growth potential, the community is well-positioned to deliver steady, long-term cash flow and a strong foundation for future value creation.”
The 1991 purpose-built community attracted significant investor interest due to its location, scale, favorable basis relative to replacement cost, and meaningful, attainable upside potential through continued occupancy growth and strategic capital improvement. It is situated in a highly affluent submarket near Sharp Memorial Hospital, Scripps Health, UC San Diego Health, numerous retail amenities, and Downtown San Diego.
“Due to the upside our team was able to showcase to the buyer pool, the bidding process produced numerous competitive bids, achieving a valuation the Seller was very pleased with in the Best & Final round,” said Nick Stahler, senior managing director investments. “Alongside legal counsel, we were also able to successfully navigate a very lengthy and challenging Attorney General approval process.”
The Knapp-Stahler group represented the seller, San Diego Christian Foundation, and procured the buyer, a regional private equity group in a JV with a local operator. “Five stars for Nick Stahler and Hap Knowles,” said David Davenport, San Diego Christian Foundation board member. “We completed a sale with them at nearly 50% more than other brokers thought possible, and they had to save our deal at least twice. They were accessible and on top of the deal throughout. I can’t imagine a better broker team in the senior housing industry.”
At The Knapp Stahler Group, we believe exceptional results are no accident. They come from the right strategy, disciplined execution, and experienced leadership. This transaction demonstrates the value to a seller of a confidential, targeted, and well-executed marketing campaign. We welcome the opportunity to discuss how our expertise can benefit your next disposition process. Contact The Knapp Stahler Group to learn more about how we can maximize the valuation of your next exit or capital event.