Marcus & Millichap was engaged by a private, family office merchant builder in its divestment of a fully stabilized seniors housing community in Arizona. Built in 2019, Inspira at Arrowhead comprises 165 independent living, assisted living and memory care units in Glendale. Nick Stahler, Hamid Panahi and Steve Gebbing of Institutional Property Advisors, a Marcus & Millichap company, handled the transaction. Alanna Ellis and Alex Sheaffer of JLL arranged acquisition financing for the deal.
There were multiple offers from institutional private equity and public REITs. The winning bidder, a joint venture between Fortress Investment Group, LLC and COGIR Senior Living, was ultimately selected due to its existing footprint in the MSA.
