GLENDALE, Ariz. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Westgate Village, a 129-unit independent living community in Glendale.
Located approximately nine miles northwest of downtown Phoenix, the property was built in 2017. It totals 112,000 square feet on approximately eight acres of land.
A regional developer sold the community to a REIT for an undisclosed price. The new owner plans to keep the existing operator in place.
Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.
“This was a great opportunity for the new owner to acquire a high-quality asset and the current operator to stay in place,” says Punzel. “The seller will be recycling the capital into other senior living projects.”