GILBERT and MESA, Ariz. — PGIM has sold two senior living communities located in metro Phoenix. The properties include The Watermark at Morrison Ranch in Gilbert and Acoya Mesa in Mesa. PGIM owned Acoya Mesa in a joint venture with the community’s original developer, Ryan Cos. US Inc.
JLL Capital Markets arranged the portfolio sale on behalf of PGIM and secured acquisition financing for the undisclosed buyer. JLL Real Estate Capital LLC, a Freddie Mac Optigo lender, will service the loan.
The Watermark at Morrison Ranch totals 115 units and was built in 2019. Amenities at the property include a fitness center, three dining venues, a technology center, library and full-service salon.
Also built in 2009, Acoya Mesa comprises 91 assisted living, 51 independent living and 28 memory care units. Amenities at the community include a café, bistro, pub, movie theater, salon, game room, activities room and library.