Nearly a year on from its departure from RED Capital Group, the Kathryn Burton Gray-led team at Hunt Real Estate Capital closed a $7.0 million bridge loan to fund the acquisition of a 44-unit memory care community in Phoenix, Arizona. Brady Johnson originated the deal, with help from Ms. Burton Gray and Michael Jones, working on behalf of the joint venture buyer that consisted of CALCAP Real Estate Advisors, a California-based real estate investment firm, and Greg Roderick, President and CEO of Frontier Management.
This is CALCAP’s first foray into seniors housing, and they will certainly benefit from Mr. Roderick’s operating experience. Built in 2000 but renovated in 2016, the community boasts a good, high-barrier-to-entry location in the affluent Ahwatukee area of Phoenix and is near both shopping and health care centers. It was previously owned by Senior Resource Group, which was represented by Blueprint Healthcare Real Estate Advisors in the sale.