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Phoenix & Southwest  + Arizona  + Senior Housing  |  July 15, 2026
Watermark at Oro Valley
Mike Boyd
By: Mike Boyd

PGIM Trades Tucson-Area Assisted Living Center for $23M

The Watermark at Oro Valley, a 101-unit assisted living community at 9005 N. Oracle Road in Oro Valley, sold for $23 million.

The buyer was Steller Senior Living. The seller was PGIM Real Estate.

Built in 2018, the two-story assisted living facility contains 83,059 square feet on 3.42 acres in the Shadow Mountain Estates area. The property is located in Tucson’s northwest submarket near Oracle Road and Hardy Road in Oro Valley.

The community includes studio, one-bedroom, and two-bedroom units, along with an on-site theater, a fitness center with daily exercise classes, a lounge, a bar, a library with a fireplace, a beauty salon and barber shop, a courtyard, and outdoor gathering spaces. The property is also near Tohono Chul Park and other recreation areas.

The property will now be rebranded as The Ironwood at Oro Valley, Assisted Living & Memory Care.

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Stellar Sr Living

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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