ARV Sells Partnership Interests to Dominium

ARV Assisted Living Inc. agreed to sell its partnership interests in 11 low-income tax-credit apartment communities to Dominium Acquisitions LLC. Terms weren’t disclosed. ARV, a Costa Mesa-based operator of communities for elderly residents who need assistance, said the transaction is part of its strategy to shed non-core businesses. More than 1,100 multifamily apartment units, or about half of ARV’s Apartment Group, are involved in the sale to Dominium. The transaction is expected to be completed by the end of the year. Dominium Acquisitions, Plymouth, Minn., develops and manages rental housing units.