HFF Arranges Sale of, Financing for, 303-Unit Seniors Housing Community Near Phoenix
SUN CITY WEST, ARIZ. — Holliday Fenoglio Fowler,L.P. (HFF) has arranged the sale of The Heritage Tradition, a 303-unit seniors housing community located within the Del Webb master-planned community of Sun City West, just northwest of Phoenix.
Senior Resource Group LLC acquired the property for an undisclosed price, and will also operate the community. The seller was not disclosed.
The Heritage Tradition features 227 independent living apartments, 35 independent living cottages and 41 assisted living units. The property was completed in three phases between 2000 and 2006, and has undergone $3.8 million in capital improvements since 2013.
In addition to negotiating the sale, HFF arranged a 10-year, fixed-rate acquisition loan through a life insurance company. The HFF investment advisory team included Ryan Maconachy, Chad Lavender and Ryan Fitzpatrick. HFF’s debt placement team consisted of Sarah Anderson.