Press Releases
Marcus & Millichap Closes Seniors Housing Asset Sale in Southeastern Michigan
November 06, 2026
ANN ARBOR, Mich., Nov. 6, 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 Brookhaven Manor, a 134-bed independent living facility in Ann Arbor, Michigan. The property sold for $26 million.
“Brookhaven Manor has established a strong market identity in a submarket with limited new seniors housing supply,” said Jim Knapp, senior managing director investments in Marcus & Millichap’s Detroit office. “Lack of inventory within Ann Arbor’s core, combined with consistent demand tied to Michigan’s aging population, including over 11,000 people aged 75-plus within a five-mile radius position the property for sustained long-term performance.” Jim Knapp and Justin Knapp of Marcus & Millichap represented the seller and procured the institutional buyer. “The sale highlights the benefits provided by Marcus & Millichap’s seniors housing division, which focuses exclusively on transaction services tailored specifically to the unique attributes of each seniors housing commercial property type,” Jim Knapp added.
Constructed in 1988 on 6.7 acres near the University of Michigan and Michigan Health, Brookhaven Manor was renovated in 2015. Interior renovations included upgrades to the lobby, dining room, community room, fitness areas, library, and the addition of a bistro and computer center. Exterior enhancements included a new outdoor patio, shaded gazebo, and expanded outdoor dining areas. The property’s unit mix is all one- and two-bedroom units, approximately 85% of which have been upgraded. Renovated units have stainless-steel appliances, granite countertops, modern cabinetry, updated lighting, and new doors. Select two-bedroom layouts have washers and dryers.
“Brookhaven Manor has established a strong market identity in a submarket with limited new seniors housing supply,” said Jim Knapp, senior managing director investments in Marcus & Millichap’s Detroit office. “Lack of inventory within Ann Arbor’s core, combined with consistent demand tied to Michigan’s aging population, including over 11,000 people aged 75-plus within a five-mile radius position the property for sustained long-term performance.” Jim Knapp and Justin Knapp of Marcus & Millichap represented the seller and procured the institutional buyer. “The sale highlights the benefits provided by Marcus & Millichap’s seniors housing division, which focuses exclusively on transaction services tailored specifically to the unique attributes of each seniors housing commercial property type,” Jim Knapp added.
Constructed in 1988 on 6.7 acres near the University of Michigan and Michigan Health, Brookhaven Manor was renovated in 2015. Interior renovations included upgrades to the lobby, dining room, community room, fitness areas, library, and the addition of a bistro and computer center. Exterior enhancements included a new outdoor patio, shaded gazebo, and expanded outdoor dining areas. The property’s unit mix is all one- and two-bedroom units, approximately 85% of which have been upgraded. Renovated units have stainless-steel appliances, granite countertops, modern cabinetry, updated lighting, and new doors. Select two-bedroom layouts have washers and dryers.
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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.
