Deer Valley Senior Living – 126 Units
Dulany Property Advisors represented the developer in the purchase of a 126-room Country Inn & Suites Hotel for $8.3 Million that was completely renovated and converted to a 119-room assisted living and memory care facility. Five years later, DPA was hired to resell the property, and was sold to a change-of-use buyer for $14 Million who purchased the property to provide transitional housing and behavioral health services.
Prescott Lakes 55+ Community – 123 units
Listed and sold this 55+ age-restricted apartment community for a repeat client. The property was 75,434 square feet and consisted of 123 resident units. Had several offers and ultimately sold the property for $30,350,000 which was under a 5% cap rate.
The Retreat at Midway City – 88 units
Listed and sold this 88 unit / 90,544 sq. ft. 55+ age-restricted apartment community. The property was on a ground lease which made things more challenging for the sale, but located in a high barrier-to-entry submarket where senior housing properties were in high demand to meet the needs of the surrounding aging community. At the time of the sale, the developer just completed construction and the owners were in the midst of lease-up and occupancy stabilization. We had several competing offers and ultimately sold the property to a Buyer for $32,500,000 which was a 4.22% cap rate.
Deer Valley Senior Living – 126 Units
Dulany Property Advisors represented the developer in the purchase of a 126-room Country Inn & Suites Hotel for $8.3 Million that was completely renovated and converted to a 119-room assisted living and memory care facility. Five years later, DPA was hired to resell the property, and was sold to a change-of-use buyer for $14 Million who purchased the property to provide transitional housing and behavioral health services.Prescott Lakes 55+ Community – 123 units
Listed and sold this 55+ age-restricted apartment community for a repeat client. The property was 75,434 square feet and consisted of 123 resident units. Had several offers and ultimately sold the property for $30,350,000 which was under a 5% cap rate.The Retreat at Midway City – 88 units
Listed and sold this 88 unit / 90,544 sq. ft. 55+ age-restricted apartment community. The property was on a ground lease which made things more challenging for the sale, but located in a high barrier-to-entry submarket where senior housing properties were in high demand to meet the needs of the surrounding aging community. At the time of the sale, the developer just completed construction and the owners were in the midst of lease-up and occupancy stabilization. We had several competing offers and ultimately sold the property to a Buyer for $32,500,000 which was a 4.22% cap rate.Native American Connections – 58 Units
We listed this vacant assisted living and skilled nursing facility for the property owner and sold it to a vacant user buyer – Native American Connections, who intended to use the property to meet the needs of the Native American Indian population within the surrounding area. Property was 22,189 sf and had 58 units. Property sold for $5,250,000 and delivered vacant at the time of sale so Native American Connections could occupy the building.
The Gardens at Kingman – 49 unit
Assisted Living Center We were hired to list and sell this 18,425 SF vacant former assisted living facility. Property consisted of 49 rooms, a commercial kitchen, several dining halls and meeting spaces, a beauty salon, and multiple courtyards. We had multiple offers from Buyers and eventually sold it to an out-of-state owner/user in the Senior Housing industry for $2,000,000.
American Care Concepts - Land Purchases for Senior Housing Developments
I represented this client in purchasing several land parcels to construct several senior living facilities.
- 12.5 acres – Carefree, AZ. – represented a client to purchase raw land for $3 Million in order to design and build 187 units of independent and assisted living, plus 5 acres of detached casitas for age restricted housing.
- 5.58 acres – Gilbert, AZ. – represented a client who purchased land for $1.2 Million. Client eventually developed a 52,916 sf 2-story independent and assisted living facility comprising 89 rooms.
Cadence Senior Living – Land Purchase for Senior Housing Development
I represented this senior housing developer and operator, Cadence Senior Living, in the search for land sites so they could build a senior housing facility. Worked with client extensively analyzing NIC MAP data, demographic studies, zoning, and entitlements requirements, and ultimately client purchased a parcel of land ideally suited for their location needs. We worked through entitlements, land planning, and design, worked to obtain adjacent property owner and city approvals, and after 3+ years we got it closed. The parcel was 7.49 acres in size and sold for $3,257,000. Took a lot of work and patience.