Passco Companies, LLC has acquired Prime West Knoxville, a 145-unit Class A senior community located at 1932 Falling Waters Road, in Knoxville, TN, for $49.5 million according to Knox County public records. The independent living facility, to be renamed and branded as Trustwell Living of West Knoxville, was built in 2020 and is currently 98% leased.

Richard Swartz, Jay Wagner, Dan Baker, Aaron Rosenzweig and Bailey Nygard of Cushman & Wakefield advised the seller.

Real estate finance and investment company Greystone provided the acquisition funding. Passco Companies, LLC will serve as asset manager and Trustwell Living, LLC will serve as property manager.

The three-story community is approximately 163,000 gross square feet and features a mix of one- and two-bedroom units with indoor and outdoor common area spaces including fitness center, game room, theater, activities area, greenhouse, dog park, putting green, pickleball court, library, indoor pool and dining room. The property is located adjacent to two nationally anchored shopping centers.