Greystone placed a total of $140 million in financing for both the refinancing and expansion of a large seniors housing community in Scottsdale, Arizona that is owned by Senior Resource Group. Greystone’s Senior Housing Capital Markets Team, led by Cary Tremper and Matt Miller, arranged the financing from a national bank on behalf of SRG.
Phase I of the luxury senior living community, Maravilla Scottsdale, opened in 2012 with 217 units of independent living, assisted living and memory care. It was fully stabilized and has received numerous awards and recognitions. Phase II of Maravilla Scottsdale is a planned 193-unit independent living community on the same parcel as Phase I that will overlook the TPC Scottsdale Golf Course. We hope future residents won’t report any noise complaints originating from the 16th hole. Spread over 11 acres with multiple common area spaces, the latest phase is estimated for completion in mid-2023.
