CB Richard Ellis Senior Housing Group Handles Two Deals Worth $16 Million 

SAN DIEGO – July 19, 2010 – CB Richard Ellis Senior Housing Services coordinated two senior housing transactions in June and July totaling $16 million. Located in Tucson, Ariz. and Chino Hills, Calif., the two properties were sold by an entity affiliated with Sunwest Management, Inc.

Canyon Crest is a 132-unit senior housing community located in Tucson featuring assisted living and Alzheimer’s care.  Seattle-based Columbia Pacific Advisors purchased the community in June for $9.48 million and will have the community managed by Emeritus, one of the largest assisted living providers in the United States. Built in 1997, the community was 37 percent occupied at the time of sale.  

Chancellor Place is a 76-unit senior housing community in Chino Hills that provides assisted living. San Diego-based Pacifica Corp. purchased the property in July for $6.55 million. At the time of sale, the community was 64 percent occupied and was built in 2001.  

David Rothschild, Matthew Whitlock and Mary Christian comprise the CB Richard Ellis Senior Housing Services team. CB Richard Ellis procured the buyers and represented the seller in both transactions. 

Over the last two years, CB Richard Ellis Senior Housing Services has represented Sunwest Management affiliates in the sale of 57 facilities worth approximately $500,000,000. The nation’s leading senior living brokerage company, CB Richard Ellis Senior Housing Services has been involved in senior living investment transactions worth over $5.5 billion since 1986. 

About CB Richard Ellis

CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2009 revenue).  The Company has approximately 29,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 “best in class” company for three years in a row. Please visit our Web site at www.cbre.com/sandiego.