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Arizona

ArizonaDevelopmentNews

LCS Completes $10M Renovation at Fountain View Village in Fountain Hills, Arizona

by Jeff Shaw

FOUNTAIN HILLS, Ariz. — LCS has completed the $10 million renovation project at Fountain View Village, an independent living, assisted living and memory care community in Fountain Hills, approximately 25 miles northeast of Phoenix. The project included a redesign of all common areas and apartments, as well as upgrades to all community amenities. The project also includes a sport court area with a gazebo, pickleball court, and putting green in an outdoor recreational space, scheduled for completion in early 2024.

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Affordable HousingArizonaDevelopmentNews

Pennrose Breaks Ground on $28M Affordable Seniors Housing Project in Phoenix

by Jeff Shaw

PHOENIX — Pennrose, Butler Housing Co., CBC Financing Corp., the City of Phoenix, the Arizona Department of Housing and additional project partners have broken ground on Garfield Housing Phase II, an affordable housing community for low-income seniors in Phoenix’s Garfield neighborhood. The project is located at 1510 E. Portland St. Located adjacent to the Garfield Commons affordable housing community, the second phase will deliver 60 affordable apartments with community amenities and on-site supportive services for seniors age 55 or older. Completion is slated for winter 2024. The four-story, 58,000-square-foot community …

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ArizonaFinanceNewsSkilled Nursing

CFG Funds $10.9M HUD Refinancing for Skilled Nursing Facility in Arizona

by Jeff Shaw

ARIZONA — Capital Funding Group (CFG) has provided a $10.9 million HUD loan, which refinances an existing bridge loan on a 112-bed skilled nursing facility in Arizona. CFG originally arranged the bridge loan as well.  Tommy Dillon originated the transaction for CFG. No further details were provided.

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ArizonaAssisted LivingDevelopmentNews

Cogir, Ryan Cos. Open 147-Unit ACOYA Shea in Scottsdale, Arizona

by Jeff Shaw

SCOTTSDALE, Ariz. — Cogir Senior Living and Ryan Cos. US Inc. have opened ACOYA Shea, an independent living, assisted living and memory care community in the Phoenix suburb of Scottsdale. The community features 147 units in a four-story building. “ACOYA Shea is located right in the heart of Scottsdale, and residents will be able to enjoy the walkability of the community and the proximity to all that the area has to offer,” says Dave Eskenazy, chief executive officer of Cogir Management USA. Cogir Senior Living develops, owns and/or operates 60 …

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ArizonaFinanceNewsSkilled Nursing

CFG Provides $15.5M HUD Refinancing for Skilled Nursing Facility in Arizona

by Jeff Shaw

ARIZONA — Capital Funding Group (CFG) has provided a $15.5 million refinancing for a 118-bed skilled nursing facility in Arizona. The transaction represents converting a bridge loan, which CFG also provided, into HUD financing. Through this transaction, CFG also refinanced an additional debt associated with a full-facility remodel the borrower completed prior to submitting to HUD.  Further details on the property and borrower were not disclosed. CFG’s Tommy Dillon originated the transaction.

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AcquisitionsArizonaCompany NewsNews

Pennant Group Acquires Valor HospiceCare in Arizona

by Jeff Shaw

EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, has acquired Valor HospiceCare, which provides skilled hospice services in Tucson, Green Valley, and Sierra Vista, Arizona. “We are pleased to expand our operations in the state of Arizona, complementing our Emblem Hospice and Agape Hospice agencies in Tucson and Green Valley, and expanding into Sierra Vista with Valor HospiceCare,” says Brent Guerisoli, CEO of Pennant.

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ArizonaCaliforniaCCRCNewsPeople

LCS Promotes Two Executive Leaders

by Jeff Shaw

PHOENIX — Life Care Services has updated its executive team roster with two internal promotions and a new hire. Stewart Ingram was promoted to regional operations manager for Life Care Services (LCS). He has been working with Sagewood and its parent company, LCS, for more than 31 years and was Sagewood’s executive director for 17 years. In his new role, Ingram will oversee the operations of LCS-managed communities in the San Diego and San Francisco Bay markets. To fill the position of executive director at Sagewood, an LCS community in …

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ArizonaFinanceNewsSkilled Nursing

CFG Funds $10.3M HUD Refinancing for Skilled Nursing Facility in Arizona

by Jeff Shaw

ARIZONA — Capital Funding Group (CFG) has provided $10.3 million in financing for a 112-bed skilled nursing facility in Arizona. The transaction replaces an existing bridge loan, which CFG also provided, into HUD financing. The name of the borrower and more specific details on the property were not disclosed. Tommy Dillon originated the transaction for the CFG.

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AcquisitionsArizonaNews

Newmark Brokers $255M Sale of Four-Property Portfolio in Metro Phoenix

by Jeff Shaw

PHOENIX — Newmark has arranged the $255 million sale of a four-property, Class A seniors housing portfolio in Phoenix and its suburbs. The LivGenerations portfolio totals 546 units comprising independent living, assisted living and memory care. The seller built all four communities — LivGenerations Agritopia, LivGenerations Ahwatukee, LivGenerations Pinnacle Peak and LivGenerations Mayo Boulevard — between 2014 and early 2022. Newmark represented the seller, regional owner-operator and developer Liv Communities, in the transaction. The buyer was not disclosed.

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