Nick Stahler and Hap Knowles of The Knapp-Stahler Group at Marcus & Millichap recently closed on the sale of an 83-unit assisted living/memory care community in the Phoenix, Arizona MSA. Built in 2017, the property includes more than 120 beds. A national private equity firm that originally developed the community also managed the property, but ran into challenges throughout the pandemic. They selected an experienced, western-based owner/operator to acquire the community, with a closing price falling significantly below replacement cost. No other details were disclosed.
AL Sale in Arizona Closed By The Knapp-Stahler Group
