Clearwater Living Acquires $255M Senior Housing Portfolio

A collection of four Class A properties increases the company’s footprint in the Phoenix region.

Liv Ahwatukee

Clearwater Living has acquired a $255 million LivGenerations senior housing portfolio in Phoenix. Newmark’s Ryan Maconachy and Chad Lavender represented the seller, Liv Communities.

Liv Communities built the properties between 2014 and 2022. The communities provide assisted living, independent living, memory care units and respite care, while promoting social engagement, healthful lifestyles with regular activities and community events.

The portfolio encompasses four Class A properties totaling 546 units:

  • LivGenerations Agritopia at 2811 East Agritopia Loop South, Gilbert, Ariz., 85296
  • LivGenerations Ahwatukee at 15815 South 50th St., Phoenix, 85048
  • LivGenerations Pinnacle Peak at 23733 North Scottsdale Road, Scottsdale, Ariz., 85255
  • LivGenerations Mayo Boulevard at 6650 East Mayo Blvd., Phoenix, 85054

The buildings encompass studio, one- and two-bedroom floorplans. Common-area amenities include swimming pools, fitness centers, walking paths, garages and game rooms. Residents also have access to housekeeping, laundry services, transportation and concierge services, compassionate care and 24/7 wireless emergency call system.

The acquisition expands Clearwater Living’s Class A portfolio in the Phoenix region. The company plans to increase its footprint in other western markets as well. In 2021, Clearwater Living and Berkshire Realty Ventures teamed up to create a portfolio of senior living assets worth at least $1 billion. Christopher Hilbert, chief investment officer for Clearwater Living, said in prepared remarks that the fund will focus on the western U.S., and will develop and strategically acquire senior living assets in markets with strong demographics and high barriers to entry.

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