NEW YORK, April 11, 2022 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has placed $140 million in total financing for both the refinancing and new construction of senior housing in Scottsdale, AZ. Greystone’s Senior Housing Capital Markets Team, led by Cary Tremper and Matt Miller, arranged the financing from a national bank on behalf of Senior Resource Group, LLC.
Phase I of the luxury senior living community, Maravilla Scottsdale, is comprised of a fully stabilized 217-unit independent living, assisted living, and memory care property that has received numerous awards and recognitions, including being named “Best 50+ CCRC Community by the National Association of Home Builders (NAHB), Best Multi-Family Project by Arizona Commercial Real Estate (AZRE), as well as “Ten Best Places to Live” by Arizona Foothills Magazine. Located in North Scottsdale in Maricopa County, Maravilla Scottsdale’s Phase I opened in 2012.
Phase II of Maravilla Scottsdale is a planned 193-unit independent living community on the same parcel as Phase I that will overlook the infamous TPC Scottsdale Golf Course. Spread over 11 acres with multiple common area spaces, the latest phase is estimated for completion in mid-2023.
“It is always exciting to see our clients grow, and especially in the literal sense with this amazing Scottsdale asset almost doubling in size to meet the submarket demand for the highest quality of senior living,” said Mr. Tremper, head of Greystone’s Senior Housing Capital Markets Team.
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.
About Senior Resource Group
Senior Resource Group, LLC (SRG), develops, owns, and operates engaging and innovative, independent living, assisted living and Alzheimer’s/dementia care communities throughout Arizona, California, Florida, Georgia, Oregon, Texas, and Washington. Since 1988, our commitment, connection, and collaboration—something we call “The Power of We” has powered every aspect of what we do. Whether residents, team members or stakeholders, “We” is what makes everything possible and makes across the board excellence achievable. SRG’s corporate headquarters are located at 500 Stevens Avenue, Suite 100, Solana Beach, CA 92075. For more information, call 858-792-9300 or visit www.SRGseniorliving.com.