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Sunrise Senior Living Inc. Message Board

  • msears99 msears99 Mar 31, 2011 3:12 PM Flag

    Latest deal values beds @ $157,000 each

    Nationwide Health Properties Inc., a real estate investment trust in Newport Beach, Calif., purchased the Arbor Rose Assisted Living center in Mesa for $12 million.

    The center is located at 6033 Arbor Ave. Milestone Retirement Communities LLC, based in Vancouver, Wash., will take over operations at the center, which was 95 percent occupied at the time of sale.

    Constructed in 2000, the center is undergoing renovations and expansion, which will be completed later this year. When finished, the center will have 76 beds.

    Grubb & Ellis in San Diego, Calif. and Cassidy Turley/BRE Commercial in Phoenix represented the various parties in the transaction. The sellers were Arbor Rose Senior Care LLC and Arbor

    Read more: Nationwide Health buys Arbor Rose | Phoenix Business Journal