ARV Acquisition
COSTA MESA —
ARV Assisted Living Inc. said it has gained a majority interest in American Retirement Villas Properties II, which owns or leases 10 assisted living facilities with 941 units. ARV said it now owns 50.7% of American Retirement after acquiring an additional 6.1% stake for about $1.5 million.
ARV also acquired Gayton Terrace, a 92-unit retirement facility in Richmond, Va.
