Fortress & COGIR Purchase 165-Unit Senior Housing In Glendale For $42.65M

The seniors-housing property located at 20240 North 78th Avenue in Glendale, AZ, known as Inspira Arrowhead, was acquired for $42.65 million. The property consists of 165 units and was purchased by Fortress Investment Group and COGIR Senior Living. First Citizens Bank provided a $33 million loan for the acquisition, with JLL Capital Markets assisting in arranging the financing.

Summary of transation details:

• Property Type: Senior Housing
• Transaction Amount: $33,000,000
• Units: 165
• Lender: First Citizens Bank
• Landlord: Fortress Investment Group & COGIR Senior Living
• Broker: JLL

Fortress Investment Group, COGIR Senior Living, and developer P.B. Bell were the key players in this transaction. First Citizens Bank facilitated the $33 million financing package for the acquisition of Inspira Arrowhead. The property, located in Glendale, Arizona, marks a significant investment in the senior housing sector by the acquiring companies, supported by JLL in securing the necessary financing.