YUMA, Ariz. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Kissito Healthcare Palm View, a skilled nursing facility in Yuma. Originally built in 1964, with renovations in 2011 and 2018, Palm View consists of 77 units and is licensed for 143 beds. The community totals 44,000 square feet on 2.9 acres. Occupancy at the time of the sale was 59 percent. The seller is a national REIT looking to divest this asset due to it being a geographic outlier for its portfolio. The buyer is a regional …
Arizona
YUMA, Ariz. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a skilled nursing facility in Yuma. The property features 77 units totaling 143 licensed beds. It was built in 1964 with renovations in 2011 and 2018, totaling 44,076 square feet on 2.9 acres of land. The name of the facility was not disclosed. The seller is a national REIT looking to divest this asset due to it being a geographic outlier in its portfolio. The buyer is a regional operator with strong presence and track record in …
GILBERT, Ariz. — Green Courte Partners has acquired The Aspens at Mariposa Point, a 202-unit seniors housing property in Gilbert, just southeast of Phoenix. Despite only being opened last month, the new owner will convert the active adult community into full-service independent living. The conversion project will include expanding the dining area, modifying the existing kitchen and adding a third-party-operated home health office. Green Courte’s wholly owned operator True Connection Communities will manage the property. Green Courte made the acquisition through its fourth investment fund, Green Courte Real Estate Partners …
SCOTTSDALE, Ariz. — Cadence Living has taken over mangement at Andara Scottsdale, a luxury independent and assisted living community in North Scottsdale. Andara Scottsdale features 170 residences at the base of the McDowell Mountains. Reliant Group, an investment and ownership group that specializes in service-enriched residential communities, appointed Cadence as manager at Andara beginning Feb. 1, 2020. Cadence Living is currently developing, owns and/or operates communities throughout the South and West. Reliant Group and Cadence already partner on communities in California, but this is their first in Arizona.
TUCSON, Ariz. — Watermark Retirement Communities has opened The Hacienda at the Canyon, an independent living, assisted living and memory care community in Tucson. The property is located on 10.5 acres at the historic landmark site of St. Anne’s Convent at Sabino Canyon. The community features an on-site integrative healthcare clinic run by TMCOne, two on-site home health care agencies, integrated personal wearable technologies and fitness systems. The development is the first to open under Watermark’s new upscale Élan Collection brand. Future locations are slated for Brooklyn Heights, Napa Valley …
SUN CITY, Ariz. — Blueprint Healthcare Real Estate Advisors has arranged the sale of The Woodmark at Sun City, a 132-unit assisted living and memory care community located Sun City, an unincorporated municipality in metro Phoenix. A publicly traded REIT sold the property to an undisclosed buyer, which plans to install a privately owned, Southern California-based operator. The price was not disclosed. Built in 2000, The Woodmark at Sun City is a two-building campus in a residential area of the Salt River Valley. Ben Firestone, Michael Segal, Alex Florea and …
Desert Land, Civitas Senior Living Break Ground on Luxury Community in Flagstaff, Arizona
by Jeff Shaw
FLAGSTAFF, Ariz. — Arizona real estate developer Desert Land Group and Texas-based senior living management company Civitas Senior Living have started construction on their newest senior living boutique project, The Bluffs of Flagstaff. Totaling approximately 210,572 square feet, the community will feature 120 independent living, 66 assisted living and 18 memory care apartments. The Bluffs of Flagstaff is scheduled for completion in fall 2021. The architect for the project is Kaas Wilson, with Greenberg Construction as general contractor. Senior By Design is providing additional design services.
MESA, Ariz. — Alliant Capital and Dominium have unveiled plans for Solstice of Mesa, an affordable seniors housing community in Mesa. All 237 units will be reserved for those over age 55 and earning up to 60 percent of area median income. Development is slated for completion in October 2021.
EASLEY, S.C., RICHMOND HEIGHTS, Ohio, and NORTH CHANDLER, Ariz. — Frontline Management, in a joint effort with Onelife Investments, has acquired three continuing care retirement communities (CCRCs) totaling 782 units of independent living, assisted living, memory care and skilled nursing.