Park Avenue Health and Rehabilitation Center, a 200-bed skilled nursing and rehabilitation facility in central Tucson, has changed hands in a $34.3 million transaction. Real Estate Daily News reports that Park Villa Corporation sold the property to the Ensign Group, which had been managing the center prior to the acquisition.
The facility is located at 2001 N. Park Avenue, north of the University of Arizona and west of Banner–University Medical Center Tucson. With a footprint of approximately 62,000 square feet, the property was originally built in 1987 and is positioned close to major institutional and healthcare anchors in the city.
Park Avenue Health and Rehabilitation Center offers a mix of short-term rehabilitation, skilled nursing and long-term care services. Residents have access to both private and semi-private accommodations supported by around-the-clock nursing coverage, reflecting the property’s role as a higher-acuity healthcare asset within the local market.
The center’s in-house rehabilitation team provides therapy services designed to support recovery and daily functioning. According to the report, therapy offerings at the facility include physical therapy, occupational therapy and speech-language therapy. Care plans are individualized to address patients’ recovery, mobility and daily living needs, aligning the property’s operations with the demands of post-acute and long-term care.
The buyer, Ensign Group, is identified in the report as the entity that had been managing the facility prior to the sale, indicating a transition from third-party operator to ownership. Park Villa Corporation is cited as the seller of the asset. No additional details were provided on any financing structure, cap rate or other transaction terms associated with the sale.
The acquisition underscores continued investor interest in healthcare and skilled nursing real estate in central Tucson, particularly properties located near major medical centers and universities. While specific investment metrics were not disclosed, the sale price and the facility’s bed count highlight the scale of the asset within the local healthcare real estate segment.
