PHOENIX — Spellman Brady & Co. has completed the expansion and renovation of Sagewood Senior Living in Phoenix for Life Care Services. Renovations included a four-story, 101-unit independent living building with an underground parking garage. The 276,454-square-foot building features one and two-bedroom apartments with den layouts and patio views. The project also provided activity and game rooms, an art studio, putting course, café, formal dining, an indoor-outdoor tapas bar and lounge.
TUCSON, Ariz. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Ranch Estates of Tucson, a 107-unit senior living community in Tucson. The property was previously known as Sage Desert Assisted Living and Memory Care. Grace Management will take over operations. The Ranch Estates of Tucson is located in North Tucson’s Casas Adobes community, near Oro Valley. Blueprint Healthcare Real Estate Advisors arranged a non-recourse acquisition loan through Truist on behalf of CPF. The seller and price were not disclosed. The …
PRESCOTT VALLEY, Ariz. — Link Senior Development and Insight Senior Living have started construction of Ativo Senior Living of Prescott Valley. Located near Bob Edwards Park, the 5.3-acre campus consists of 130 residences across more than 117,000 square feet. The community will include a mix of independent living, assisted living and memory care units ranging from studio apartments to two-bedroom cottages. The community is scheduled to open in summer 2022. Link Senior Development leads the project as the developer. Ankrom Moisan is serving as the architect on the project, Seabold …
TEMPE, Ariz. — McCarthy Building Cos., a St. Louis-based construction firm, has completed construction of Mirabella at ASU, a $252 million continuing care retirement community in Tempe. Pacific Retirement Services and University Realty were the developers for the project. Mirabella at ASU is located at the corner of University Drive and Mill Avenue on the campus of Arizona State University (ASU), 4.5 miles from the Phoenix Sky Harbor International Airport. The community features a 20-story, 613,992-square-foot tower with 252 apartment units ranging from 751 square feet to 2,665 square feet. …
TUCSON, Ariz. — Marcus & Millichap has arranged the sale of Carlton Village Senior Care Community, an 80-bed assisted living community in Northwest Tucson. The community was built in 2018. The price of $5.6 million equates to $70,000 per bed. Alex Snyder and Hamid Panahi, seniors housing investment specialists in Marcus & Millichap’s Tucson office, represented the seller, a seniors housing developer. The buyer was a Tucson-based owner-operator. The community combines the scale of a large assisted living operation with the communal setting of high-acuity care homes, creating a quasi-campus …
SUN CITY, Ariz. — Ziegler has arranged $136.8 million of public bonds and bank capital for People of Faith Inc. The borrower has planned an expansion project known as Inspirata Pointe at its existing continuing care retirement community (CCRC), Royal Oaks, in Sun City. The financing comprises $90.8 million in tax-exempt bonds and $46 million in variable-rate entrance fee redemption bonds. Royal Oaks was established in 1981 on approximately 50 acres 22 miles northwest of Phoenix. The CCRC currently offers 258 independent living apartments, 102 independent living private residential garden …
PHOENIX — Colliers International has arranged the sale of Prescott Lakes, an age-restricted apartment community in Phoenix. CA Prescott Lakes Owner LLC acquired the asset from BAZV Prescott Lakes LLC for an undisclosed price. Restricted to residents age 55 or older, the 99,972-square-foot Prescott Lakes features 128 condominium-style one- and two-bedroom apartments. Built in 2003 on four acres, the community includes a dog park, fitness center, game room, media center, pool, spa, outdoor entertainment veranda and fully furnished guest suites. Cindy Cooke, Brad Cooke, Matt Roach, Chris Roach and Tim …
PHOENIX — Cushman & Wakefield Senior Housing Capital Markets has arranged a $13 million refinancing for The Palazzo, a 327-unit seniors housing community in Phoenix. The borrower is a joint venture of an affiliate of Westport Capital Partners LLC and Integro Healthcare Consulting. The borrower originally acquired the 14-acre campus in 2017. The property recently underwent a $10 million renovation, and the refinancing will replace the original acquisition financing while current ownership finishes executing its business plan. The community comprises two three-story buildings totaling 335,000 square feet, featuring 100 independent …
SCOTTSDALE, Ariz. — The joint venture team of Ryan Cos. US, Cadence Living and a controlled affiliate of Starwood Capital Group has completed construction of Acoya Scottsdale at Troon in Scottsdale. The community features 135 independent living and assisted living units in 22 floor plans ranging from 585 square feet to 2,385 square feet. The new community is situated on six acres of land between Pinnacle Peak and Troon Mountain. Thoma-Holec Design handled the interior design. This is the second Acoya-branded community in Arizona, and several more are planned according …
PHOENIX — Ryan Cos. has broken ground on Clarendale Arcadia, an independent living, assisted living and memory care community in Phoenix. The project is a joint venture between Harrison Street, LCS and Ryan. The partnership entered into a long-term ground lease with the landowner, LAKO. Located on six acres, the 347,346-square-foot community will feature 140 independent living apartments, 68 assisted living apartments and 40 memory care apartments. Independent living residences will range from 696 square feet to 1,692 square feet, and assisted living residences will range from 439 square feet …
