SAN FRANCISCO, June 29, 2022 - JLL Capital Markets announced today that it has closed the $39.2 million sale of Cortona Park, an assisted living community in Brentwood, California.
JLL represented the seller, Northwestern Mutual, in the sale of the asset to a joint venture between Cogir and a national investment partner. Cogir will operate the community and has renamed it Cogir of Brentwood.
Built in 2007, Cortona Park comprises studio, one- and two-bedroom units averaging 761 square feet. The pet friendly apartments feature large floorplans with granite counters, in-unit washer and dryer and private balconies. The property amenities include a library, café/bistro, beauty shop, courtyard and garden, outdoor pool, theatre, billiards, fireside living room and a community room with meeting space. In addition, the property offers concierge services, a 24-hour security system, postal services, a business center, wireless internet access and special dietary services.
Situated on 4.27 acres at 150 Cortona Way, Cortona Park is adjacent to John Muir Health Urgent Care. Additionally, the community is 4.7 miles from Kaiser Permanente Antioch Medical Center and 7.2 miles from Sutter Delta Medical Center. Residents have convenient access to the Bay Area Rapid Transit (BART), which provides transportation to the greater San Francisco area.
The JLL Capital Markets Investment Sales and Advisory team representing the seller consisted of Managing Directors Charles Bissell and Cody Tremper and Director Dean Ferris.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.