Stonepeak has acquired Acoya Shea, a 147-unit senior living community in Scottsdale, for $109 million, according to information reported by The Phoenix Business Journal. The property was sold by Harrison Street Asset Management and Cogir Senior Living. A Colliers spokesperson cited in the reporting indicated that the transaction reflects a record per-unit sale price for a senior living facility in the region.
Acoya Shea was designed, developed and built by Ryan Cos. on a 2.55-acre site at 7373 E. Shea Boulevard. Completed in 2023, the community consists of 147 senior living units and features a range of resident-oriented amenities. On-site offerings include a resort-style swimming pool, a bistro, a theater room and a salon, positioning the asset at the higher end of the local senior housing market.
The record-setting deal in Scottsdale is being compared with another recent senior housing trade in the Phoenix area. Blackstone acquired The Heritage Tradition in Sun City West in February for $145 million. While that transaction carried a higher total price, the per-unit consideration was lower, at $476,973 per unit, underscoring the premium implied in the Acoya Shea closing on a per-unit basis.
The Stonepeak acquisition is part of a broader pattern of investors directing more capital into senior living communities in the region. Recent sector activity highlighted in the reporting includes PGIM Real Estate’s $36 million sale of the 138-unit MorningStar Senior Living at Golden Ridge in Peoria. In a separate transaction, The Pennant Group Inc. acquired Arbor Rose Senior Living in Mesa, adding another senior housing asset to its portfolio.
Taken together, these transactions illustrate continued investor engagement with senior housing assets across multiple communities in and around Phoenix. The mix of institutional buyers and sellers, as well as repeat activity from large investment managers, points to sustained interest in the sector’s long-term demand drivers. Within that context, the record per-unit pricing achieved at Acoya Shea signals how newer, amenity-rich properties can command premium valuations compared with other senior living assets in the same metropolitan area.
