Senior Housing News November 29, 2022
Earlier this month, Clearwater Living acquired four LivGenerations communities in the Phoenix area. New information shows the deal changed hands for a relatively high total compared to other similar deals.
Newport Beach, California-based Clearwater Living and capital partner PGIM paid $225 million to buy multiple Arizona properties consisting of 554 units from Liv Communities, as reported by commercial real estate publication CoStar News.. CoStar cited internal data that shows the transaction “is the highest total price on record” for a senior living portfolio in Arizona.
Clearwater acquired the communities in the Phoenix area to increase its footprint in the region and grow its “Class A trophy” holdings.
“The reason why this portfolio was so attractive to us was not...
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