Welltower Inc. bought a luxury retirement community in Denver's Lower Downtown neighborhood for $11.8 million, the Denver Business Journal reported, citing property records.

AEW affiliate SHI Denver LLC sold Balfour at Riverfront Park at 1550 Little Raven St. at a 25% return on investment after buying it in 2012 for $9.4 million, the May 24 report added.

Welltower officials declined to comment on the transaction.