CB Richard Ellis Senior Housing Services announced two senior housing transactions in June and July totaling $16 million that were sold by affiliated entities of Sunwest Management, Inc. During the past two years, CBRE Senior Housing Services has represented Sunwest Management affiliates in the sale of 57 facilities.
Canyon Crest, a 132-unit senior housing community located in Tucson, Arizona, featured assisted living and Alzheimer’s care options. Seattle-based Columbia Pacific Advisors purchased the community in June for $9.48 million and will have the community managed by Emeritus, one of the largest assisted living providers in the United States. Originally built in 1997, the community was 37 percent occupied at the time of sale.
Chancellor Place is a 76-unit senior housing community in Chino Hills, California that provides assisted living. San Diego-based Pacifica Corp. purchased the property in July for $6.55 million. At the time of sale, the community was 64 percent occupied and was built in 2001.
The team of David Rothschild, Matthew Whitlock and Mary Christian procured the buyers and represented the seller in both transactions.