Press Releases
Marcus & Millichap Closes 122-Unit San Diego Senior Living Asset Sale
October 21, 2026
SAN DIEGO, Calif., Oct. 21, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Canyon Villas, a 122-unit, 122-operating bed, independent living, assisted living, and memory care facility with 133 licensed beds in the Clairemont neighborhood of San Diego, California.
“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.”
“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 and final round,” said Nick Stahler, senior managing director investments. “Alongside legal counsel, we were able to successfully navigate a very lengthy and challenging attorney general approval process.”
Knowles, Stahler, and Michael Mooney of Marcus & Millichap, in association with Tony Solomon, Marcus & Millichap’s California broker of record, represented the seller, San Diego Christian Foundation, and procured the buyer, a regional private equity group in a joint venture 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.”
The property’s Clairemont location places it within proximity of Sharp Memorial Hospital, Scripps Health, and UC San Diego Health. Interstates 5, 805 and California State Route 163 are nearby. Shopping is close by at Genesee Plaza and Balboa Plaza, and Downtown San Diego is within a short drive.
Constructed in 1991 on over four acres, Canyon Villas is purpose-built community with a courtyard, walking area, library, gazebo, and activity room. Amenities include 24/7 care, dining and room service, transportation, and activities.
“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.”
“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 and final round,” said Nick Stahler, senior managing director investments. “Alongside legal counsel, we were able to successfully navigate a very lengthy and challenging attorney general approval process.”
Knowles, Stahler, and Michael Mooney of Marcus & Millichap, in association with Tony Solomon, Marcus & Millichap’s California broker of record, represented the seller, San Diego Christian Foundation, and procured the buyer, a regional private equity group in a joint venture 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.”
The property’s Clairemont location places it within proximity of Sharp Memorial Hospital, Scripps Health, and UC San Diego Health. Interstates 5, 805 and California State Route 163 are nearby. Shopping is close by at Genesee Plaza and Balboa Plaza, and Downtown San Diego is within a short drive.
Constructed in 1991 on over four acres, Canyon Villas is purpose-built community with a courtyard, walking area, library, gazebo, and activity room. Amenities include 24/7 care, dining and room service, transportation, and activities.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
