TUCSON, ARIZ. — Hamilton Zanze has purchased the 320-unit Centrepoint apartment complex in Tucson for $33.6 million. The community is located at 3220 West Ina Road. Centrepoint was 96 percent occupied at the time of sale. The property is situated near some of Tucson’s largest employers, including Raytheon and Davis-Monthan Air Force Base. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter, Matt Pesch and Mike Sandahl executed the transaction. The seller was Independence Realty Trust.
CINCINNATI — NorthMarq Capital has arranged a $3 million refinancing for a 156-unit multifamily property in Cincinnati. Ferguson Woods Apartments is located at 2890 Four Towers Drive. The transaction was structured with a fully amortizing 20-year term. The borrower is undisclosed.
BRADENTON, FLA. — NXT Capital has provided a $34.6 million acquisition loan for Vista at Palma Sola, a 340-unit apartment complex located in Bradenton. Situated one mile from Palma Sola Bay, the property features a clubhouse, two tennis courts, fitness center, pool, volleyball court, playground and a movie theater. Dennis Jimenez of CBRE’s Orlando office arranged the loan through NXT Capital on behalf of the undisclosed borrower.
BETHESDA, MD. — Congressional Bank, a Bethesda-based community bank, has closed five loans in three transactions for three seniors housing communities. The loans total roughly $11.6 million. The transactions include a $3 million bridge to HUD loan and a $1.5 million revolving line of credit for the acquisition and renovation of a 107-bed skilled nursing facility in New Bedford, Mass.; a $2.6 million bridge to HUD loan and a $500,000 revolving line of credit for the acquisition of a 67-bed skilled nursing and assisted living facility in Huntington, W.Va.; and a $4 million revolving line of credit in connection with the acquisition and operations of a 118-bed skilled nursing facility in Tucson, Ariz. Following its merger with American Bank with more than $800 million in assets, Congressional Bank becomes one of the 10 largest banks headquartered in Maryland, and one of the 15 largest banks headquartered in the metropolitan Washington, D.C., area.
TUCSON, ARIZ. — The Weitz Company, a design and construction firm based in Phoenix, has broken ground on Hacienda at the River, a $21 million seniors housing community in Tucson. A joint venture of The Freshwater Group and Watermark Retirement Communities is developing the community, which Watermark will manage upon completion. The new community will feature a 74,000-square-foot, two-story health care center offering short-term, long-term and hospice care. Hacienda at the River will include a 50-bed rehab unit, 12 long-term nursing care beds and 12 hospice beds. Also included are 69 assisted living and memory care units spread over a 43,000-square-foot village of single-story homes. The property will also house a 1,600-square-foot stable to offer equine therapy to residents.
MARINA, DEL REY, CALIF. — TCA Architects has unveiled the multifamily component of Neptune Marina, a waterfront development that will include a new marina and boater facilities in Marina Del Rey. The 526 units will feature a mid-century modern design. The project will include elevated courtyards only accessible to residents, as well as lobbies and boater facilities on the public edges to supplement the surrounding promenades. Neptune Marina is already under construction, and is scheduled for completion in 2018.
IRVINE, CALIF. — American Healthcare Investors, an Irvine-based investment firm specializing in the acquisition and management of healthcare-related properties, has hired Christopher Belford as executive vice president, asset management. Belford joins American Healthcare Investors from Brookdale Senior Living, the largest owner and operator of seniors housing communities in the United States, where he served as the president of the western division. While with Brookdale, Belford managed 269 senior living and retirement communities, representing 24,400 units and over 14,000 employees in 11 Western states. In his new role, Belford will oversee all seniors housing, skilled nursing and hospital properties within American Healthcare Investor’s $8 billion portfolio of assets under management. Christopher Rooney, who holds the same title as Belford, will continue to oversee all medical office buildings within the portfolio. Prior to Brookdale, Belford worked as senior vice president of operations for Emeritus Assisted Living from January 2001 until its merger with Brookdale in July 2014. With Emeritus, he was responsible for the operation of 270 communities in 18 states across the Western U.S. He also previously served in executive capacities with BPM Assisted Living/Regent Assisted Living and ERA Care Inc., where he began his healthcare career in 1991. Belford received …
CEDAR PARK, TEXAS – Riverside Resources has begun construction on the first phase of a 100-acre mixed use campus on Parmer Lane in Cedar Park. The first phase of the campus, called Presidio, will feature 74,000 square feet of office space, a 100-room hotel, 320 urban lofts and 21,000 square feet of retail/restaurant space. The initial phase spans 26 acres off the southeast corner of Parmer Lane and Ranch Trails Court. The remaining 74 acres is on the other side of Ranch Trails Court. Presidio will be able to accommodate an office campus with upwards of 500,000 square feet, along with additional lofts, retail and restaurant space. The design’s intent is to bring a more urban, walkable mixed-use campus to Parmer Lane and Cedar Park, with a trail system, local restaurants, a park and a food trailer court. The Phase I office building has been 50 percent pre-leased to American Constructors and will be ready for occupancy in the fall of 2016. In early 2016, Riverside Resources will also move ahead with the other components of the first phase, including a 21,000-square-foot restaurant and retail component it’s developing in partnership with Chris Whitworth and Mauricio Gonzalez Kane of Cordova Real …
SPRINGHILL, TENN. — Trillium Capital Resources (TCR) has arranged a $29 million loan for Grand Reserve Springhill, a newly constructed, 290-unit apartment community located in Springhill. Trillium arranged the 12-year, non-recourse, fixed-rate loan through Aegon Insurance Group on behalf of the borrower, a Columbus, Ga.-based developer. The borrower will use the proceeds of the financing to take out an existing construction loan.
O’FALLON, MO. — Blueprint Healthcare Real Estate Advisors has arranged the $54 million sale of Park Place Senior Living at WingHaven, a 206-unit independent living and assisted living community in the St. Louis suburb of O’Fallon. Blueprint represented the seller, AEW Capital Management, which sold the property on behalf of AEW Senior Housing Investors to CNL Healthcare Properties. Originally built in 2006, a joint venture of AEW and First Capitol Group acquired Park Place in 2011. The venture expanded the community with the addition of assisted living units and by converting units to memory care. Blueprint’s Ben Firestone was lead advisor on the transaction.
