SCOTTSDALE, Ariz. — Alliance Residential Co. has announced Greystar will manage Overture Arcadia, an active adult community under construction in Scottsdale. Overture Arcadia is scheduled to open in December 2022.
GILBERT, Ariz. — Greystar has started pre-leasing at Album Cooley Station, an active adult community in the Phoenix suburb of Gilbert. “There is a need for this type of housing as we see more and more active adults looking to right-size their living environment, live a maintenance-free lifestyle and meet new friends within a vibrant community,” says Sylvia Loss, community manager Floor plans come in one- and two-bedroom apartments; two-bedroom, single-story villas; and two-bedroom casitas, which are little homes that surround the apartment building and include their own garage, patio …
CHANDLER, Ariz. — CIT Group Inc. (NYSE: CIT), through its Healthcare Finance business, served as sole lead arranger of $34 million to refinance the Enclave at Chandler. Opened in 2018 in the Phoenix suburb of Chandler, the community features 89 independent living, 49 assisted living and 24 memory care units. The borrower is Spectrum Retirement Communities. “Demand is strong for senior housing facilities like the Enclave at Chandler that serve a range of needs,” says William Douglass, managing director and group head for CIT’s Healthcare Finance business.
YUMA, Ariz. — Ativo Senior Living has opened Ativo of Yuma, an assisted living and memory care community in the Fortuna Foothills submarket of Yuma. The 79-unit community features floorplans ranging from studio to one- and two- bedroom options. This is the first project between Link Development and Insight Senior Living, as the management company, with future projects set for Prescott Valley, Arizona; Albuquerque, New Mexico; and Sundance, Arizona.
TEMPE, Ariz. — Ziegler has arranged $104.1 million in bond financing to fund an expansion project at Friendship Village of Tempe, a continuing care retirement community in Tempe. The property currently features a 554-unit retirement center including garden homes and apartments, a 67-unit assisted living building, 24 memory care beds, a 128-bed skilled nursing center and a 14-bed hospice unit. The expansion, which is Phase II of the campus master plan, will add a five-story building that replaces a former 60-unit apartment building with 64 entrance-fee apartments and a new …
FOUNTAIN HILLS, Ariz. — Focus Healthcare Partners and Life Care Services (LCS) have acquired Fountain View Village, a senior living community in Fountain Hills, a suburb of Phoenix. LCS will operate the 291,000-square-foot community following the acquisition. Fountain View Village consists of 90 independent living units, 68 assisted living units, 45 memory care units and 48 units within its dedicated health center. Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard of Cushman and Wakefield represented the seller, a joint venture between an institutional investor and national operator. …
BUCKEYE, Ariz. — Link Senior Development and MedCore Partners have unveiled plans for Ativo of Sundance, a 202-unit senior living community inside the Sundance Active Adult master-planned community in the Phoenix suburb of Buckeye. The campus will offer 103 independent living, 75 assisted living and 24 memory care units on a 10-acre tract. Construction of the 211,000-square-foot, three story project is scheduled to begin in late 2021 for an anticipated opening in summer 2023. Insight Senior Living will manage the community, including oversight of all programs and resident services. This …
PHOENIX — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 94-unit skilled nursing facility in Phoenix. The 94-unit vacant facility was originally developed by Mainstreet in 2017 and designed to be operated as an assisted living and transitional care facility. However, the property was foreclosed on and as a result was never operational. The property is strategically located just 0.2 miles from Banner Estrella Medical Center as well as two other major hospitals within an eight-mile radius. The buyer, seller and price were not disclosed.
GLENDALE, Ariz. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Westgate Village, a 129-unit independent living community in Glendale. Located approximately nine miles northwest of downtown Phoenix, the property was built in 2017. It totals 112,000 square feet on approximately eight acres of land. A regional developer sold the community to a REIT for an undisclosed price. The new owner plans to keep the existing operator in place. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction. “This was a great opportunity for the …
BLUFFTON and HILTON HEAD, S.C.; TUCSON, Ariz.; and JACKSON, Tenn. — Walker & Dunlop Inc. has structured $37.4 million in financing for four assisted living and memory care facilities. The finance transactions included $5.5 million for Bloom at Bluffton in Bluffton; $5.8 million for Bloom at Hilton Head in Hilton Head; $16.1 million for Cascades of Tucson in Tucson; and $10 million for Regency of Jackson in Jackson. Kevin Giusti and Brian Neal led the origination team. The Bloom portfolio, comprising two assisted living and memory care communities with 117 …