Two Tucson Assisted Living Facilities Sell for Combined $57 Million

TUCSON, ARIZONA (June 19, 2026) — Two Tucson assisted living properties sold on the same day in separate transactions to different buyers for a combined $56,999,900.

Broadway Proper Assisted Living Community, a 232-bed assisted- and independent-living facility at 400 S. Broadway Place, sold for $52 million ($224,137 per unit). The buyer was Tucson PropCo 1 LLC, an affiliate of PropCo Holding LLC of Irvine, California. The seller was Stellar Broadway Proper LLC, c/o Harrison Street Real Estate Capital of Chicago.

Broadway Proper was built in 1998 on 6.5 acres in Tucson’s east submarket. The 389,728-square-foot property includes three three-story buildings with studio, one-bedroom, and two-bedroom units. The community offers assisted living, independent living, and retirement care services, with amenities including dining areas, a fitness room, a clubhouse, outdoor areas, housekeeping, transportation, resident programming, laundry service, an arts and crafts center, a game room, a movie or theater room, a pool, and a Jacuzzi.

Everett Benton represented the seller in the Broadway Proper transaction.

In a separate transaction that also closed May 18, Copper Canyon Assisted Living and Memory Care, a 41-unit licensed assisted living facility at 5901 N. La Cholla Blvd., sold for $4,999,900 ($121,948 per unit). The buyer was Tucson Mountain Holding LLC, c/o Pennant Services of Eagle, Idaho. Andrew Rider is the manager of the buying entity. The seller was 5901 La Cholla LLC of New York.

Copper Canyon was built in 2012 on 3.51 acres in northwest Tucson. The 32,173-square-foot property includes private suites, shared companion suites, semi-private suites, a beauty and barber shop, and a courtyard.

Together, the sales reflect continued investor interest in Tucson’s senior housing and assisted living market, with activity spanning both the east and northwest sides of the metro area.

Sources: RED Comp #12511 and #12507.