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FOUNTAIN HILLS, AZ-The five-year-old, 244-unit Fountain View Village is under new ownership today. WSL Fountain View Investors V LLC of Chicago has paid $49.5 million to Fountain View Village LLC of Omaha for the 16-acre property located 20 minutes from Scottsdale. The price equates to $202,869 per unit, or $170 per sf, for the 291,000-sf rental continuing-care retirement property.

The seniors housing asset at 16455 E. Avenue of the Fountains includes 89 independent living units, 91 assisted living units and 64 skilled nursing beds in 42 private and 11 semi-private rooms. A 12-bed Alzheimer’s wing is part of the skilled nursing section. There also are two guest rooms available for overnight or short-term stays. The development includes a full roster of amenities, including a bistro, library, theater and art gallery.

Brokers David Rothschild, Lisa Widmier and Mary Christian in the Phoenix office of the CB Richard Ellis Senior Housing Services Group handled the transaction. Christian says there was “a tremendous amount of investor interest in this property due to its size, excellent location in a retiree area and the fact that residents can age in place” without needing to obtain additional services at another facility.

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