$52.3M Sale Highlights Gilbert Senior Living Demand

$52.3 Million Sale at Morrison Ranch: The Watermark Becomes Cogir Morrison Ranch Senior Living

A major senior-housing transaction has quietly taken place in one of Gilbert’s most sought-after master-planned communities. The assisted living and memory care campus formerly known as The Watermark at Morrison Ranchhas sold for $52,300,000 and is now operating under a new name: Cogir Morrison Ranch Senior Living.

A Modern Senior Living Asset

Opened in late 2018, the community spans 98,956 square feet and features 115 total units, including assisted living and memory care residences. Designed with a resort-style feel, the campus is set along scenic water features that mirror the broader Morrison Ranch aesthetic, offering residents a calm, neighborhood-style environment rather than an institutional one.

From the start, the property stood out for its thoughtful design, high-quality finishes, and emphasis on lifestyle programming — factors that continue to make it attractive to both residents and investors.

What’s Changing — and What’s Not

While ownership and branding have changed, the day-to-day mission remains the same. Under the Cogir banner, the community continues to provide:

• Assisted Living and Memory Care services

• Lifestyle-driven programming focused on wellness and engagement

• A residential setting integrated into the Morrison Ranch neighborhood

The rebrand reflects a broader trend in senior housing where institutional capital is targeting newer, well-located properties with strong demographics and long-term demand.

Why This Sale Matters

A $52.3 million sale price places this transaction among the most notable senior living deals in the East Valley. It reinforces a key takeaway: modern, stabilized senior housing in strong suburban locations is commanding premium pricing.

For context, back in August, a similar-size assisted living community near Gilbert High School sold for $44.5 million. The higher valuation at Morrison Ranch underscores the value of newer construction, master-planned community placement, and long-term growth prospects in Gilbert.

The Bigger Picture for Gilbert Real Estate

As Gilbert continues to mature, large-scale commercial and residential assets — particularly those tied to healthcare and senior living — are becoming increasingly attractive to national and regional operators. With an aging population and limited supply of newer facilities, transactions like this are likely to become more common.

This sale isn’t just a rebrand — it’s another signal that Gilbert has firmly established itself as a high-value market for institutional real estate investment.