ARV Acquires Major Interest in Villa Colima

ARV Assisted Living Inc., the publicly traded senior housing developer, said it has paid $1.95 million to acquire a major interest in the owner of Villa Colima, a 94-unit assisted living facility in Walnut, Calif. The company has acquired the controlling interest in Villa San Gabriel Limited Partnership, the general partner of Villa Colima. Villa San Gabriel constructed the facility in 1987.

ARV Assisted Living, one of the largest operators of assisted living facilities in the nation, currently operates 38 facilities throughout the United States containing 4,823 units. Fourteen additional facilities are under development in California, Colorado, Florida, Massachusetts, Nevada, New Jersey, New Mexico, New York and Texas.

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Debora Vrana covers real estate for The Times. She can be reached at (714) 966-5979 and at debora.vrana@latimes.com