Marcus & Millichap Brokers $4.5M Sale of 183-Unit CCRC in Ohio

by Jeff Shaw

CINCINNATI — Marcus & Millichap (NYSE: MMI) has arranged the sale of Scarlet Oaks, a 183-unit continuing care retirement community in Cincinnati.

An East Coast-based private owner/operator purchased the 75-year-old property from a national owner/operator for $4.5 million, or $25,000 per unit. The names of the parties were not disclosed.

Mark Myers, senior vice president investments, and Joshua Jandris, vice president investments, along with associates Ryan Fleming, Peyton Stanforth and Charles Hilding, all from Marcus & Millichap’s Chicago office, handled the sale. 

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