(To read more on the multifamily market, click here.)
SUN VALLEY WEST, AZ-For its second Arizona acquisition, aChicago-based joint venture has bought the 304-unit HeritageTradition, an independent and assisted living campus from AEWSenior Housing Co. LLC, part of Boston-based AEW Capital ManagementLP and Ryerson Co. LLC. The $120-million purchase also included anextra 8.8 acres.
Situated on 17.23 acres at 19303 New Tradition Rd. the complexwas built in two phases: the independent units rising in 2000 andassisted living component in 2004. Thirty-five additional cottagescame on line just last month January under the AEW/Ryersontenure.
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