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Passco, Greystone Purchase Independent Living Community in Knoxville

By December 29, 2022March 25th, 2024No Comments

145-unit Former Prime West Knoxville rebranded as Trustwell Living of West Knoxville.

Passco Companies in conjunction with Greystone, has acquired a Class A Independent Living Community in Knoxville TN. Greystone provided the funding while Passco Companies will be the owner and asset manager. Trustwell Living will manage the property. The community is located at 1932 Falling Waters Road. Formerly known as Prime West Knoxville, it will be renamed and branded as Trustwell Living of West Knoxville. The 145-unit community was built in 2020 and is currently 98% leased, with a waitlist.

The three-story community is approximately 163,000 gross square feet and features a mix of spacious one- and two-bedroom units, with a fitness center, game room, theater, activities area, greenhouse, dog park, putting green, pickleball court, library, indoor pool, and dining room.

The community will feature a number of on- and off-site activities, which range from artistic endeavors to musical entertainment, Happy Hours, and spiritual pursuits. The property is adjacent to two nationally anchored shopping centers.

The Cushman & Wakefield Senior Housing Capital Markets team including Richard Swartz, Jay Wagner, Dan Baker, Aaron Rosenzweig, and Bailey Nygard, advised the seller.

Originally published by GlobeSt.