Arizona

Stellar Senior Living Adds Six Communities to Management Portfolio

by Hayden Spiess October 20, 2025

SALT LAKE CITY — Owner and operator Stellar Senior Living has added six new communities to its management portfolio. The Utah-based company will now operate Granite Gate Prescott, Arizona; The Forum at Desert Harbor in Peoria, Arizona; The Gardens of Scottsdale and Pueblo Norte in Scottsdale, Arizona; The Forum at Tucson in Tucson, Arizona; and Montebello on Academy in Albuquerque, New Mexico. Stellar will manage the properties on behalf of Diversified Healthcare Trust, which owns the communities. “These communities are located in markets we know and trust, and they complement our …

October 20, 2025

Arizona Finance News

Joint Venture Secures Refinancing for 248-Unit Community in Phoenix

by Hayden Spiess October 15, 2025

PHOENIX — A joint venture between Harrison Street Asset Management, LCS and Ryan Cos. US Inc. has secured refinancing for Clarendale Arcadia, a senior living community located in the Arcadia neighborhood of Phoenix. Ryan Stoll and Taylor Mokris of BWE arranged the financing — which features full-term interest-only payments, an initial 36-month term and two one-year extension options — on behalf of the joint venture. Completed in 2023, Clarendale Arcadia totals 248 residences, with 240 independent living units, 68 assisted living units and 40 memory care units. Amenities at the property …

October 15, 2025

Arizona Company News Development News People

Watermark Names Brett Leon Senior Vice President of Development

by Hayden Spiess October 10, 2025

TUCSON, Ariz. — Watermark Retirement Communities has named Brett Leon senior vice president of development. Leon brings 22 years of real estate development leadership to the position, including roughly a decade of specializing in senior living with developer Alliance Residential. Leon worked with Arizona-based Watermark during his time at Alliance Residential, with Watermark managing nine Alliance communities during his tenure. “Brett’s expertise and proven vision for senior living development will be instrumental as we expand our portfolio,” said Watermark CEO Paul Boethel in a statement. Watermark was named the 28th largest …

October 10, 2025

Affordable Housing Arizona Development News

Pennrose Underway on $57M Affordable Development in Phoenix

by Hayden Spiess September 24, 2025

PHOENIX — Pennrose is currently underway on the second phase of Garfield Terrace, a $57 million affordable seniors housing development in downtown Phoenix. Pennrose recently opened Phase I of the development and commenced construction on Phase II. Project partners include Butler Housing Co., CBC Financial Corp., the City of Phoenix and the Arizona Department of Housing (ADOH). Garfield Terrace I totals 60 studio and one-bedroom apartments for residents age 55 and older. Twelve units are reserved for seniors earning at or below 30 percent of the area median income (AMI), with …

September 24, 2025

Acquisitions Arizona Assisted Living Independent Living Memory Care News

Stellar Senior Living Acquires Community in Marana, Arizona

by Hayden Spiess July 18, 2025

MARANA, Ariz. — Stellar Senior Living has acquired La Sonora at Dove Mountain, a seniors housing community located in Marana, roughly 20 miles northwest of Tucson. Totaling 152 units, the property features independent living, assisted living and memory care residences. The seller and sales price were not disclosed. Stellar Senior Living, which was founded in 2011, is headquartered in Salt Lake City.

July 18, 2025

Arizona California Finance News

JLL, HJ Sims Secure $239.6 Million in Tax-Exempt and Taxable Bond Financing for Seniors Housing Portfolio

by Channing Hamilton March 31, 2025

BUCKEYE AND YUMA, Ariz., AND SANTA CLARITA, Calif. — JLL and HJ Sims have arranged $239.6 million in tax-exempt and taxable bond financing for the Integrated Senior Foundation-Ativo Portfolio, three seniors housing properties totaling 430 units in Arizona and California. Integrated Senior Foundation is a non-profit 501(c)(3) owner and operator based in Brea Calif. The portfolio, which includes two ground-up development communities and one acquisition, consists of Ativo of Sundance, located in the fast-growing city of Buckeye, Arizona; Ativo of Yuma, in Yuma, Arizona; and Ativo of Santa Clarita, located within …

March 31, 2025

Arizona Assisted Living Development Independent Living Memory Care News

Thoma-Holec to Design Five Acanthus Senior Living Communities in Metro Phoenix

by Hayden Spiess January 22, 2025

PHOENIX — Thoma-Holec Design has been tapped to lead the interior design of five new Acanthus Senior Living developments. Each of the projects, all located throughout metro Phoenix, will be situated on a Catholic church property. The developments, which will comprise roughly 150 units each, will be located at St. Benedict Catholic Church in Ahwatukee, St. Clare of Assisi Catholic Church in Surprise, St. Raphael Catholic Church in Glendale, St. Gabriel Catholic Church in Cave Creek, and St. Joesph Catholic Church in Phoenix. Open to individuals of all faiths, the communities …

January 22, 2025

Clarendale-Indian-Lake_Hendersonville-Tenn

Acquisitions Arizona Assisted Living Illinois Memory Care Missouri News Tennessee

Inland Acquires 635-Unit Senior Living Portfolio

by Hayden Spiess January 7, 2025

OAK BROOK, Ill. — An affiliate of Inland Real Estate Acquisitions has acquired a 635-unit senior living portfolio. The portfolio comprises three newly constructed Clarendale communities — Clarendale of Chandler in Chandler, Arizona; Clarendale of St. Peters in St. Peters, Missouri; and Clarendale at Indian Lake in Hendersonville, Tennessee. Amenities at the properties, which feature independent living, assisted living and memory care residences, include swimming pools, wellness centers, full-service salons, entertainment, dining and access to outpatient services and 24-hour security. The portfolio’s average occupancy was 92 percent at the time of …

January 7, 2025

Arizona Finance News

JLL Secures $96.5M Refinancing for Seniors Housing Portfolio in Arizona

by Channing Hamilton September 25, 2024

MESA, SURPRISE, PEORIA, SEDONA AND YOUNGTOWN, ARIZ. — JLL Capital Markets has arranged $96.5 million in refinancing for a five-property, 971-unit seniors housing portfolio in Arizona. Alanna Ellis, Brad Miner and Ace Sudah of JLL Capital Markets Debt Advisory secured the financing for the borrower, Douglaston Development and The Hampton Group. Recently renovated between 2021 and 2024, the portfolio consists of 510 independent living units, 339 assisted living units and 122 memory care units. The portfolio includes Canyon Winds at 2851 N. Boulder Canyon and 7311 E. Oasis St. in Mesa; …

September 25, 2024

Arizona Finance News

Live Oak Bank Provides $54M Bridge Loan for Four-Property Portfolio in Arizona

by Channing Hamilton September 20, 2024

PHOENIX and PRESCOTT, Ariz. — Live Oak Bank has provided a $54 million bridge loan for an Arizona-based owner and operator of seniors housing communities. Loan proceeds were used to retire existing bank debt for a four-property campus portfolio in the metropolitan statistical areas (MSAs) of Phoenix and Prescott Valley. The loan provides a bridge-to-agency option and features a two-year initial term and 24 months of interest-only payments.

September 20, 2024

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