KKR Pays $112.3M for Two AZ Senior Housing Properties
KKR acquired a Phoenix-area senior housing portfolio for $112.3 million. PGIM sold the two properties, totaling 285 units. Commercial Edge reports that JLL Real Estate Capital issued two Freddie Mac loans totaling $69.9 million for the deal.
JLL Seniors Housing Capital Markets represented the seller and secured the financing for the buyer.
One of the properties, The Watermark at Morrison Ranch, comprises 115 units in Gilbert, Ariz. It traded for $52.3 million. Completed in 2019, The Watermark at Morrison Ranch features assisted living and memory care units across two stories. Amenities include three dining venues, a gym, a tech center, and a library.
The other one is Acaya Mesa, a 170-unit asset in Mesa, Ariz (shown). PGIM had owned the community in partnership with its developer, Ryan Cos. That asset changed hands for $60 million. Acaya Mesa also debuted in 2019 and consists of a three-story building which encompasses independent living, assisted living and memory care units.
Other News
Queens’ Tallest Tower Reaches 90% Leased, Adds First Retail Tenants
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
Learn more
80-Unit Seniors Housing Development Opens in Suburban Chicago
Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
Learn more
312-Unit Multifamily in Indiana Changes Hands
Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout