The transaction involved the sale of two senior housing properties located at 3333 Morrison Ranch Parkway and 6502 East Brown Road within the Gilbert and Mesa markets of Arizona. The properties, known as The Watermark at Morrison Ranch and Acoya Mesa, encompass 285 units and were sold for a total price of $112,300,000, resulting in a price per unit of $394,035. Both properties were constructed in 2019 and offer assisted, independent, and memory care services.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $112,300,000
• Buyer: KKR
• Seller: PGIM
• Broker: JLL
• Lender: Freddie Mac
• Units: 285
• Price Per Unit: $394,035

KKR acquired the properties from PGIM, with JLL facilitating the financing arrangements for the transaction. Freddie Mac served as the lender for this deal, which involved the strategic divestment of the assets by the seller.