DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and financing for The Heritage Tradition, a 303-unit, Class A+ seniors housing community in the Del Webb master planned community of Sun City West, Arizona.
The HFF team marketed the property on behalf of the undisclosed seller, and procured the buyer, Senior Resource Group, LLC (SRG). SRG will also operate the property. Additionally, the HFF team worked on the new owner’s behalf to secure a 10-year, fixed-rate acquisition loan through a life insurance company.
The Heritage Tradition totals 303 units, of which 227 are independent living apartments, 35 are independent living cottages and 41 are assisted living units. The independent living units feature emergency call systems, fully equipped kitchens, cable TV, individual climate controls, balconies or patios and full-size washer and dryers. Cottage units also include attached one- and two-car garages. Common area amenities include two heated swimming pools with spas, a fitness center, putting green, movie theater, beauty salon, barber shop, library, computer center, fine dining restaurant, outdoor gardens and walking paths. Completed in three phases between 2000 and 2006, the institutionally maintained property has undergone $3.8 million in capital improvements since 2013. The Heritage Tradition is situated near the corner of N. RH Johnson Boulevard and W. Meeker Boulevard approximately 24 miles northwest of downtown Phoenix.
The HFF investment advisory team included senior managing directors Ryan Maconachy and Chad Lavender and senior director Ryan Fitzpatrick.
HFF’s debt placement team consisted of director Sarah Anderson.
Holliday GP Corp. (“HFF”) is a commercial mortgage broker licensed with the Arizona Department of Financial Institutions, License Number CMB 0938500 and NMLS Number 1524298.
About Senior Resource Group, LLC: Senior Resource Group, LLC (SRG) develops, owns and operates distinctive independent living, assisted living and Alzheimer’s/dementia care communities in Arizona, California, Florida, Georgia, Oregon and Washington. Since 1988, the company has championed the development and management of senior living communities that provide older adults with the knowledge, programs, resources and support to create one’s own blueprint for wellness and living a fully engaged life. SRG’s corporate headquarters is located at 500 Stevens Avenue, Suite 100, Solana Beach, CA 92075. For more information, call 858-792-9300 or visit SRGseniorliving.com.
About HFF: HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.