TUCSON, Ariz. — Evans Senior Investments (ESI) has arranged the sale of Avalon Southwest Health & Rehabilitation, a 211-bed skilled nursing facility in Tucson.
A Chicago-based owner-operator looking to establish a presence in Arizona bought the property for $15 million, or $71,000 per bed. The seller was an independent investor group seeking a repositioning of its capital
Built in 1983 in Southern Tucson, Avalon Healthcare operated the facility prior to the sale. The facility is positioned within a network of local hospitals, including the neighboring Banner University Medical Center only 500 feet away. Historical occupancy averaged in the 70 percent range, so it was positioned as a value-add opportunity.