Arizona

Revel Communities Opens Two Independent Living Properties in Scottsdale, Arizona

by Jeff Shaw August 22, 2022

SCOTTSDALE, Ariz. — Revel Communities has completed construction of Revel Scottsdale and Revel Legacy, both independent living communities in Scottsdale. The properties are the 12th and 13th independent living communities the brand has opened since launching in 2018, and its first two in Arizona. Revel Scottsdale offers 157 units near the bustling shops and dining of Old Town Scottsdale, with rents starting at $3,695 per month. Revel Legacy offers 169 units among the mountain views of North Scottsdale with rents starting at $3,795 per month.

August 22, 2022

Arizona CCRC Finance News

VIUM Provides $13.7M HUD Refinancing for 199-Bed CCRC in Arizona

by Jeff Shaw August 19, 2022

ARIZONA — VIUM Capital has provided a $13.7 million HUD refinancing for a nonprofit continuing care retirement community (CCRC) in Arizona. The transaction replaces a bridge loan, which VIUM also provided in January 2021. The property features 12 independent living, 93 assisted living and 94 skilled nursing beds. Further details were not disclosed.

August 19, 2022

Acquisitions Arizona News

CBRE Negotiates Sale of 170-Unit Andara Senior Living in Scottsdale, Arizona

by Jeff Shaw August 2, 2022

SCOTTSDALE, Ariz. — CBRE National Senior Housing has arranged the sale of and acquisition financing for Andara Senior Living, a 170-unit luxury seniors housing community in Scottsdale. Built in 2010, the community is located in an affluent pocket of Scottsdale and nestled in the foothills of the McDowell Mountains. The campus features two three-story residential wings interconnected by a covered walkway. The community offers independent living and assisted living services. Reliant Group sold the property to a joint venture between Colonial Oaks Senior Living and Fortress Investment Group. Although the …

August 2, 2022

Arizona Assisted Living Finance News

JLL Provides $10.6M Refinancing for Countryside Living in Queen Creek, Arizona

by Jeff Shaw July 29, 2022

QUEEN CREEK, Ariz. — JLL Capital Markets has provided a $10.6 million refinancing for Countryside Living in Queen Creek, approximately 35 miles southeast of downtown Phoenix. Opened in 2020, the property features 40 units and 42 beds of assisted living and memory care on 2.5 acres. The one- and two-bedroom units range from 344 to 515 square feet. The property is just a few miles from Banner Ironwood Medical Center, The Links Queen Creek Golf Course and Ocotillo Trails Marketplace. The 75-plus population within a five-mile radius of the community …

July 29, 2022

Arizona CCRC Finance News

BMO Harris Closes $145M Term Facility for LCS, Westminster Capital

by Jeff Shaw July 19, 2022

PHOENIX — BMO Harris Bank’s Healthcare Real Estate Finance group has closed on a $145 million, two-bank term facility for LCS and Westminster Capital. The borrowers will use the funds to recapitalize Sagewood, a continuing care retirement community in Phoenix. The property features 417 independent living, 44 assisted living, 28 memory care and 78 skilled nursing units.

July 19, 2022

Arizona Development News Operations Texas

Integral Senior Living to Operate Two Communities in Texas, Arizona

by Jeff Shaw July 5, 2022

PFLUGERVILLE, Texas, and QUEEN CREEK, Ariz. — Integral Senior Living has taken oer operations of Sage Valley Senior Living in Pflugerville and Mojave Sage Senior Living in Queen Creek. Both properties provide assisted living and memory care services. This addition comes shortly after ISL announced expanding its portfolio with four new communities in Utah and Nevada. Investcor owns the communities. Sage Valley is set to open its doors early 2023, with Mojave Sage opening in 2024.

July 5, 2022

Acquisitions Arizona News

Link Senior Development, Roxborough Group Buy 301-Unit Park Terrace Senior Living in Phoenix

by Jeff Shaw June 10, 2022

PHOENIX — Link Senior Development and The Roxborough Group LLC have acquired Park Terrace Senior Living, a 301-unit independent living and assisted living community in Phoenix. The 15.3-acre campus features 12 residential buildings offering one- and two-bedroom units. Link and Roxborough intend to invest more than $3 million to convert the remaining assisted living units to independent living units. The partnership will also focus on making the community more sustainable by increasing water and energy efficiencies. “The substantial demand and need in the North Phoenix market for competitively priced independent …

June 10, 2022

Acquisitions Arizona Florida Illinois News

Walker & Dunlop Arranges Sales of Three Communities for $150M

by Jeff Shaw May 23, 2022

PHOENIX, ORLANDO and CHICAGO — The Walker & Dunlop seniors housing team has arranged three acquisitions with three different institutional partners. The transactions totaled over $150 million across 419 independent living, assisted living and memory care units. The assets are located in the Phoenix, Orlando and Chicago metro area. Walker & Dunlop’s Tony Cassie and Sam Thompson provided advisory services and facilitated the Arizona sale, while Brett Gardner, Joshua Jandris and Mark Myers provided advisory services and facilitated the Florida and Illinois sales.

May 23, 2022

Acquisitions Arizona Finance News Skilled Nursing

Capital Funding Group Provides $17.2M in Acquisition Financing for Two Skilled Nursing Facilities in Arizona

by Jeff Shaw May 12, 2022

ARIZONA — Capital Funding Group (CFG) has provided $17.2 million in Bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The facilities, which are located in Arizona, support 232 beds. The buyer is the operator of the two communities, and is now purchasing the real estate. Tommy Dillon originated the transaction. Further details on the seller and communities were not disclosed.

May 12, 2022

Acquisitions Arizona News

Merrill Negotiates $45M Sale of 301-Unit Community in Phoenix

by Jeff Shaw May 4, 2022

PHOENIX — Merrill Commercial Real Estate has arranged the sale of a 301-unit seniors housing community in Phoenix. The 300,000-square-foot property offers both independent living and assisted living. The seller invested $20 million in capital improvements to convert the former Embassy Suites Hotel to the resort style property it is today. An independent owner-operator sold the asset to a development group looking to expand in Arizona for $45 million, which represents a capitalization rate of 4.5 percent and per-unit cost of $149,500 Tyler Merrill led the transaction.

May 4, 2022

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