Independent Living

SAN MATEO, Calif. — Elder Care Alliance has acquired The Villa at San Mateo, a 135-unit independent living community in San Mateo, located between San Francisco and San Jose.

SOUTHFIELD, Mich. — Greystone Real Estate Advisors has arranged the $12.5 million sale of the Park at Trowbridge, a 298-unit independent living community in the Detroit suburb of Southfield.

REDDING, Calif. — Ray Stone Inc. has acquired River Oaks Retirement Community, a 102-unit independent living community in Redding, approximately 160 miles north of Sacramento. The price was not disclosed.

CLINTON, STERLING HEIGHTS and SHELBY, Mich. — The fourth investment fund o Green Courte Partners LLC (GCP) has acquired a portfolio of three independent living properties totaling 371 units, all located in the suburbs of Detroit. The sale price was not disclosed.

REDDING, Calif. — CBRE has arranged an undisclosed amount of financing for Ray Stone Inc., which will use the capital to acquire River Oaks Retirement Community, a 102-unit independent living community in Redding, approximately 160 miles north of Sacramento.

PRESCOTT, Ariz. — Bascom Arizona Ventures has acquired the Prescott Lakes Senior Community, a 123-unit luxury independent living community for $18 million or $146,341 per unit.