941 E Elliot Rd, Gilbert, AZ, 85234, US

American Groves

Asset Description

Featuring 89 luxury residences, a full-service health and wellness center, resort-style swimming pool, multiple dining options, spacious common areas and more, American Groves is located in Gilbert, AZ for independent and assisted living.

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Attributes

Number of units

Building area net

4,916 m²

Occupancy

98%

Year built

2021

Media

Investment Highlights

Class-A newly constructed asset: Built in 2021, American Groves Senior Living represents the pinnacle of senior living with a well-appointed amenity offering, resort-style pool, full kitchens, and luxurious finishes.
Exceptional Cashflow: The community produces exceptional cashflow with more than $3 million of trailing three-month annualized NOI with a current RevPor of $6,480.
Tangible Upside: Currently 100% occupied with a waiting list, the community is fully loaded with expenses and poised to continue pushing rate and care increases.
Premier retirement destination – Gilbert, AZ has a warm climate, low crime rate, excellent healthcare facilities, abundant recreational activities, and tax benefits. These attractive features are complemented by strong growth statistics: within a 15-minute driving distance, there are nearly 1 million people, with a projected 4% population increase in the next 5 years, and a median home value of $502,571 that is expected to grow by 20%.
Low Acuity – A luxurious living option for the younger and more independent residents base, the fully licensed IL/Al facility allows for aging in place, leading to longer resident tenure and opportunities for additional service revenue as resident’s needs change over time.