We learned that in November, MBK Senior Living acquired an 83-unit assisted living community in Gilbert, Arizona: Mariposa Point of Gilbert, which will now operate as Sky Ridge. The close of this sale doubles the company’s footprint in the Phoenix MSA in less than a year, where MBK owns and operates six communities.
The seller, Texas-based McFarlin Group, opened the community in 2017 as its first Surpass Senior Living property in the state of Arizona. Comprising 65,000 square feet, the Mariposa Point cost around $18 million to develop, with financing provided in part by Piper Jaffrey & Co. This property was part of a series of four Surpass communities which were constructed by McFarlin in the Phoenix MSA which opened between 2017 and 2018.
Based in Irvine, California, MBK’s portfolio includes 35 communities throughout the western United States. This acquisition is part of the company’s reported strategic growth plan toward operating 10,000 units. The company added two Arizona properties to its portfolio in November 2021 and is also exploring co-investment opportunities in development.
Located adjacent to a brand-new active adult community called The Aspens at Mariposa Point, Sky Ridge offers seniors studio, one- and two-bedroom assisted living apartments, as well as private and semi-private memory care suites. Among the community’s resort-style amenities are an internet lounge, beauty salon, restaurant-style dining room, activities room, landscaped courtyards, and multiple common areas.
