Chicago REIT Acquires Prestige Assisted Living of Green Valley for $13.9 M

Prestige Assisted Living at 1175 S Abrego Drive in Green Valley, Arizona changed hands for $13.9 million ($178,205 per unit) in a portfolio of eight properties to Ventas, Inc. of Chicago, Ill. Prestige will continue to operate the facility under the name of Prestige Assisted Living of Green Valley.

The 39,812-square-foot Green Valley facility (built 2000) has 60 assisted care apartments and 18 memory care units situated on 5.71 acres. Surrounded by golf courses and pecan orchards. The community is conveniently located 25 miles south of Tucson and minutes away from Madera Canyon where sightings of rare Golden Eagles and Peregrine falcons are commonplace.

Amenities include a beauty salon, garden and private dining rooms for gatherings with family and friends. Scheduled transportation is also included, but it’s our events calendar full of fun activities within the community that might surprise you. From movie nights and happy hour to resident sing-alongs, we aim to help residents enjoy life and receive the personal care they need. We offer a selection of spacious studio, one- and two-bedroom apartments that feature kitchenettes with full-size refrigerators and microwave ovens, private baths with barrier-free showers, wall-to-wall carpeting, high-speed Internet and a 24-hour emergency call system. Green Valley also offers our Expressions Memory Care program for individuals with special needs caused by memory loss.

Ventas, Inc. (NYSE: VTR) an S&P 500 company, is a leading real estate investment trust. Its diverse portfolio of more than 1,500 assets in the United States, Canada and the United Kingdom consists of seniors housing communities, medical office buildings, skilled nursing facilities, hospitals and other properties. Ventas provides management, leasing, marketing, facility development and advisory services to highly rated hospitals and health systems throughout the United States. More information about Ventas can be found at www.ventasreit.co

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[mepr-show rules=”58038″] Sale date: 12/8/2014. We were unable to determine the aggregate price of the portfolio however, buyer reported that purchase price was determined based on an analysis of estimated aggregate cash flow of the total enterprise as a going concern and other factors rather than through a property by property valuation. Individual property price allocations were made base on investment and other criteria and include the real property, tangible and intangible property value. $9,115,000 of the purchase price was allocated for personal property at the facility. APN: 304-27-001X[/mepr-show]