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DENVER — Evans Senior Investments (ESI) has arranged the sale of the Novellus Cherry Creek, an assisted living community in Denver.
ESI represented Novellus Living in the transaction. Peaks Healthcare purchased the asset for an undisclosed price.
Originally built in 2002, Novellus Cherry Creek comprises 66 assisted living units. The community faced occupancy challenges, with only 36 percent of its units occupied at the time of marketing. In alignment with its broader portfolio strategy, Novellus Living opted to divest its Colorado asset, focusing efforts on its thriving California and Arizona portfolios.