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Fountain View Village Sells for Nearly $50M

FOUNTAIN HILLS, AZ-A Chicago investor pays $49.5 million, or $202,869 per unit, for the 244-unit retirement property located 20 minutes from Scottsdale.

By Alex Finkelstein | Updated on August 07, 2006

(To read more on the multifamily market, click here.)

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.

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