HFF Brokers AZ Senior Community Sale
- Dec 15, 2017
HFF has arranged the sale and financing of The Heritage Tradition, a 330-unit Class A+ senior housing community in Sun City West, Ariz. The company marketed the property on behalf of an undisclosed seller, and procured the buyer, Senior Resource Group LLC, who will also manage the property. Additionally, HFF secured a 10-year, fixed-rate acquisition loan through a life insurance company on behalf of the seller.
The community is situated at the corner of N. RH Johnson Boulevard and W. Meeker Boulevard, in close proximity to the Hillcrest Golf Club. The building was completed in three phases between 2000 and 2006, and has undergone $3.8 million in capital improvements since 2013.
The Heritage Tradition
Comprising 303 units, The Heritage Tradition provides 227 independent living apartments, 35 independent living cottages and 41 assisted living units.
Common area amenities include:
- two heated swimming pools with spas
- fitness center
- movie theater
- beauty salon
- barber shop
- computer center
- fine dining restaurant
- gardens and walking paths
The HFF investment advisory team included senior managing directors Ryan Maconachy and Chad Lavender and senior director Ryan Fitzpatrick, while Director Sarah Anderson led the debt placement team. The company also recently arranged a seven-year loan for the sale of a 582-unit community in the Phoenix area.
Image vie Google Street View