PHOENIX — A joint venture between Bruckal Developments and Ridgeline Properties has purchased a former Country Inn & Suites in Phoenix for $8.3 million. The buyers plan to convert the property into an assisted living and memory care community.
Built in 2000, the 126-room property is four stories tall. The 74,000-square-foot building sits on 3.3 acres of land and has 147 parking spaces, as well as an exterior pool and fenced patio area. The conversion will create a 119-room seniors housing community slated to open in February 2018.
"This hotel is an ideal conversion target as it has large suite size rooms and plentiful common area spaces to develop all the amenities being afforded new Seniors facilities today,” says Steven Bruckal, president of Bruckal Developments. “The extensive outdoor space ans view make it especially attractive and set it apart from most modern offerings in the Phoenix marketplace.”
Tim Dulany of Colliers International arranged the sale on behalf of the seller, PV Deer Valley LLC, which is a joint venture between PacVentures LLC and RA Rauch & Associates.
Bruckal Developments is a family-owned, Arizona-based company with real estate assets in the United States and Canada. Ridgeline Properties is a seniors housing development and management company based in Oregon.
Bruckal will be responsible for all construction and conversion responsibilities. The general contractor for the project is Hawk General Contracting of Phoenix.