PGIM Trades Tucson-Area Assisted Living Center for $23M
The Watermark at Oro Valley, a 101-unit assisted living community at 9005 N. Oracle Road in Oro Valley, sold for $23 million.
The buyer was Steller Senior Living. The seller was PGIM Real Estate.
Built in 2018, the two-story assisted living facility contains 83,059 square feet on 3.42 acres in the Shadow Mountain Estates area. The property is located in Tucson’s northwest submarket near Oracle Road and Hardy Road in Oro Valley.
The community includes studio, one-bedroom, and two-bedroom units, along with an on-site theater, a fitness center with daily exercise classes, a lounge, a bar, a library with a fireplace, a beauty salon and barber shop, a courtyard, and outdoor gathering spaces. The property is also near Tohono Chul Park and other recreation areas.
The property will now be rebranded as The Ironwood at Oro Valley, Assisted Living & Memory Care.
Other News
JLL Arranges Financing for Lightstone Acquisition on Upper West Side
JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...
Learn more
National City Investment Group Commences Workforce Housing Build
The National City Investment Group, a locally owned, privately held real estate investment company, recently broke ground on Market View, a 120-unit multifamily residential community located at 303 Highland Ave. in National City. The development will transform an underutilized parking lot adjacent to Manolo Farmers Market, which has served National City for more than 33...
Learn more
Levin Johnston Closes Apartment Sale in One of San Jose’s Strongest Submarkets
Levin Johnston of Marcus & Millichap recently completed the sale of First Street Manor, a 39-unit apartment community in San Jose. Executive managing directors Adam Levin and Robert Johnston, along with senior director, investments Cole Simpson, represented the seller and procured the buyer in the $9.112-million transaction. The Levin Johnston team demonstrated the asset’s upside...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout