SCOTTSDALE, Ariz. — Liv Communities and Ryan Cos. US Inc. have started construction of LivGenerations Mayo Blvd., a luxury senior living community approximately 1.5 miles from the Mayo Clinic hospital campus in Scottsdale.
Arizona
PEORIA, Ariz., and HENDERSON, Nev. — Resort Lifestyle Communities has completed construction of two independent living communities, Arrowhead Valley Retirement Resort in the Phoenix suburb of Peoria and Cactus Valley Retirement Resort in the Las Vegas suburb of Henderson.
PHOENIX — Life Care Services is developing the $100 million second phase at Sagewood in Phoenix. Westminster Capital is the joint venture development partner of the property, which opened in 2010 and currently has 316 units. Situated on 3.5 acres, the 220,000-square-foot second phase will include 101 independent living apartments. Phase II will feature one- and two-bedroom apartment homes; an 18-hole championship golf putting course; new dining facilities, including The Owl’s Nest restaurant and lounge; expansion of the existing Canyon Café; and an expansion of the current Palo Verde Dining …
BMO Harris Healthcare Funds $21M Credit Facility to Finance Acquisition of Assisted Living, Memory Care Asset in Arizona
by Jeff Shaw
MARANA, Ariz. — BMO Harris Bank’s Healthcare Real Estate Finance group has provided a $21 million credit facility for the acquisition of Watermark at Continental Ranch, an assisted living and memory care community in Marana. The borrowers are Kayne Anderson Real Estate and Watermark Retirement Communities. Completed this year by Link Development and Watermark, the 96,000-square-foot asset features 108 assisted living and memory care beds. The property is situated on four acres in the Silverbell Corridor of Marana.
YUMA and FLAGSTAFF, Ariz. — The Weitz Company and Arizona Department of Veterans’ Services (ADVS) are preparing to break ground on a new Arizona State Veteran Home in Yuma. This will be the second such home built by the partnership, having recently broken ground on another in Flagstaff.