Marcus & Millichap's Jim Knapp and Justin Knapp Broker $26 Million Sale of Brookhaven Manor in Ann Arbor

ANN ARBOR, Mich. — Marcus & Millichap (NYSE: MMI) announced Nov. 6, 2026, the sale of Brookhaven Manor, a 134-bed independent living facility in Ann Arbor, Michigan, for $26 million. Jim Knapp and Justin Knapp of the firm's Detroit office represented the seller and procured the institutional buyer.

The sale equates to roughly $194,030 per bed.

Brookhaven Manor Sale Details

Brookhaven Manor sits on 6.7 acres near the University of Michigan and Michigan Medicine. The community was constructed in 1988 and renovated in 2015.

The property's unit mix consists entirely of one- and two-bedroom units, approximately 85% of which have been upgraded. Renovated units feature stainless-steel appliances, granite countertops, modern cabinetry, updated lighting and new doors. Select two-bedroom layouts include washers and dryers.

The 2015 interior renovations covered the lobby, dining room, community room, fitness areas and library, and added a bistro and computer center. Exterior enhancements included a new outdoor patio, a shaded gazebo and expanded outdoor dining areas.

Jim Knapp on Ann Arbor Seniors Housing Demand

Jim Knapp, senior managing director investments in Marcus & Millichap's Detroit office, said the property has established a presence in a market with little new competition.

"Brookhaven Manor has established a strong market identity in a submarket with limited new seniors housing supply," Jim Knapp said. "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 also pointed to the firm's specialized seniors housing practice. "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," he said.

Market Context for Ann Arbor Independent Living

The transaction involves an independent living asset located near two major demand drivers, the University of Michigan and Michigan Medicine. More than 11,000 residents aged 75 and older live within five miles of the property, and new seniors housing supply in Ann Arbor's core is limited.

Marcus & Millichap Activity

Marcus & Millichap is a commercial real estate brokerage specializing in investment sales, financing, research and advisory services, with offices throughout the United States and Canada. As of Dec. 31, 2025, the company had 1,808 investment sales and financing professionals in more than 80 offices. The firm closed 8,818 transactions in 2025 with sales volume of approximately $50.9 billion.

Marcus & Millichap reported $755.2 million of revenue in 2025, up 8.5% from $696.1 million in 2024. The firm recorded 291 transactions of at least $20 million in the fourth quarter of 2025, compared with 317 in the same quarter a year earlier. The Brookhaven Manor sale falls within that larger-transaction category.

Sources

• Marcus & Millichap press release, Nov. 6, 2026: https://www.marcusmillichap.com/news-events/press/2026/11/marcus-millichap-closes-seniors-housing-asset-sale-in-southeastern-michigan