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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 30, 1997
Commission file number 0-26980
ARV ASSISTED LIVING, INC.
(Exact name of Registrant as specified in its charter)
CALIFORNIA 33-0160968
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
245 FISCHER AVENUE, D-1
COSTA MESA, CA 92626
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICE) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (714) 751-7400
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
INTEREST IN PROSPECT PARK RESIDENCE, LLC AND WATERSIDE VILLAS, LLC
On December 30, 1997, ARV Assisted Living, Inc. ("ARV") completed sale
transactions with Castle Senior Living, LLC, a Delaware limited liability
company, for approximately $24.5 million. This amount includes the purchase
price plus the repayment of outstanding loans and related accrued interest due
to ARV from Prospect Park Residence, LLC and Waterside Villas, LLC. Pursuant to
the terms of the transaction, ARV sold its 50 percent interest in one operating
assisted living community and one assisted living community in the development
phase. The interest in the two communities sold were as follows:
<TABLE>
<CAPTION>
Community Location Type Units
- --------- -------- ---- -----
<S> <C> <C> <C>
Prospect Park Residence Brooklyn, New York Assisted Living Community 127
Waterside Villas Cranbury, New Jersey Assisted Living Community
under development 138
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Total 265
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</TABLE>
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ARV Assisted Living, Inc.
By: /s/ Graham Espley-Jones
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Graham Espley-Jones
Chief Financial Officer
(Duly authorized officer)
Date: January 13, 1998