Acquired: 2014

Number of Units: 85

MorningStar Assisted Living at Arrowhead is a new, first‐class assisted living and memory care community strategically located in northern Glendale, Arizona. The investment has completed the full investment cycle and was sold in 2016. The property provides a high‐quality senior living option to the established, growing and underserved areas of northern Glendale, Peoria, Sun City and the North Central areas of Phoenix. Developed and managed by MorningStar Senior Living, a highly experienced and successful owner, operator and developer of similar communities, the two‐story, wood‐construction community is composed of approximately 66,000 gross square feet, 60 assisted living rental apartments (approximately 75 licensed beds) and 25 units (26 licensed beds) designed specifically for residents needing special care for Alzheimer’s and other memory impairments. The community includes state‐of-the‐art design and significant amenity space and is well positioned from a location and pricing perspective to meet the substantial demand for senior housing and care in the area.