Alignment Realty Capital Launches Dental Income Fund with 7 Property Portfolio Acquisition

2102 N Country Club Rd, Tucson, AZ

TUCSON, ARIZONA — Alignment Realty Capital, a direct, net-leased acquisitions group based in Phoenix, Arizona, recently announced the creation of ARC Dental Income Fund I, LLC.  The Fund’s launch is marked by the closing of a sale-leaseback acquisition of seven dental and orthodontic properties located in Arizona, North Carolina, and Mississippi.

Two of the properties were in Tucson and sold to leaseback by General Dentistry 4 Kids. The addresses are 2102 N Country Club Rd. Suite A and Suite 4 and 295 West Valencia Rd. in Tucson that sold for an aggregate of $3.69 million.

Alignment believes the essential, non-discretionary, and internet-resistant nature of dentistry creates an attractive real estate investment, with additional tailwinds from a backdrop of corporate consolidation actively underway within the dental industry.  The Fund seeks to acquire the real estate of growing dental and orthodontic practices, primarily through sale-leaseback transactions, which can financially empower practice owners with a new source of liquidity.  Alignment will become a preferred real estate partner within the industry by providing unique incentives to our dental and orthodontic partners.

“As the global health crisis continues to unfold, we are fortunate to be able to align ourselves with industries that provide essential services,” noted Ben Sacks.  “We are extremely grateful for our partnership with one of the largest children’s dental providers in the country and look forward to building new relationships with dental partners across the US,” added Jake Gallagher.

295 W Valencia Rd, Tucson, AZ

Enterprise Bank and Trust provided Alignment Realty Capital with acquisition financing.

Alignment Realty Capital, based in Phoenix, Arizona, directly acquires net-leased real estate across the United States.  The firm invests in high-quality assets operated by durable brands with a focus on dental and orthodontic practices, quick-service restaurants, aftermarket automotive centers, and other essential and non-discretionary retail.

Alignment provides a framework for operating businesses to unlock the value they create through their real estate leases. A strategic sale-leaseback can provide business owners with immediate growth capital or function as a flexible financing source with limited restrictions.  We create long-term relationships with our tenants, grounded in a fundamental alignment of interests that enables synergistic business growth.

To learn more, see RED Comp #8423, #8424 and #8425.

 




La Estancia MPC starts 2021 in a big way as Meritage Homes, Lennar, and Pulte Homes combine to pay $29 Million for 464 lots.

La Estancia Community Pool and Clubhouse

TUCSON, ARIZONA — One of Tucson’s most successful master-planned communities is getting ready to start construction on a new phase of 464 lots.  Meritage Homes, Lennar and Pulte Homes Homes have teamed up to buy 464 finished lots paying a combined $29.1 million. Meritage Homes paid $16,195,750 for 271 lots (193-40’X115′ and 78-45’X115′) Lennar paid $6,790,000 for 97 finished lots (50X115) and Pulte paid $6,156,000 for 96 lots (45’X115′).

Meritage and Lennar have been building and selling in La Estancia for years and this will be Pulte’s first time in the project. The seller in these transactions was Sunbelt Holdings.

La Estancia, a 556-acre master planned community, offers master-planned living in this prime southeast submarket. Centrally located just off of I-10 and Wilmot Road and nearby some of Tucson’s most prominent employment centers including Raytheon Missile Systems, Davis Monthan Air Force Base, UA Tech Park and Tucson International Airport. Residents benefit from community amenities including a sparkling pool, splash pad, shaded ramadas and play equipment, ready for use.  This new phase will advance development south of Camino Boleadoras and include a new amenity package as well.

“We are extremely pleased to launch this new phase of La Estancia,” said Greg Mohl, Vice President of Sunbelt Holdings. “The project has been in high demand by homebuilders and homebuyers since its grand opening several years ago. We continue to be thankful for our homebuilder partners like Meritage Homes and Lennar that have helped to make La Estancia such a success and we are excited to welcome Pulte Homes to the community.”

The transactions were handled by Will White and John Carroll of Land Advisors Organization. Sunbelt Holdings will continue to advance engineering on a follow up phase with new lots due out to market later in 2021. Land Advisors is handling the marketing.

Will White of Land Advisors-Tucson commented, “La Estanica has surpassed all of its projected metrics and is regarded as one of the best addresses in the Tucson metro area. The focus will be to continue to prepare plats and deliver them as quickly as possible to the project’s homebuilders. Tucson’s housing market continues to heat up and we expect the homebuilders at La Estancia to continue their record performance”

For additional information, White and Carroll can be reached at 520.514.7454.

 




NAI Horizon’s Tucson office negotiates $23M sale of Treehouse Apartments

TUCSON, ARIZ. – NAI Horizon brokered the multifamily investment sale of Treehouse Apartments in Tucson for $23 million ($137,725 per unit or $237 psf).

Justin Lanné and Mike Chapman with NAI Horizon’s Tucson office represented both the seller, CaliberCos, Inc.’s Fund, CDIF Sunrise L.L.C., and the buyer, AHC Real Estate FND VIII L.P.

The asset is comprised of 167 units located at 3636 N. Campbell Ave., in Tucson, Arizona. Treehouse Apartments offers three apartment styles – studio, one-, and two-bedroom units.

The community is 3 miles north of the University of Arizona campus and one parcel south of University of Arizona Cancer Center.

Escrow closed on the property on February 10, 2021.

“A new Fannie Mae Loan was placed on the property allowing the buyer to take advantage of the low interest environment,” Lanné said. “Treehouse Apartments were extensively renovated by the seller in 2016.”

For more information, Lanne can be reached at 520.907.3470 and Chapman is at 520.591.5188.

To learn more, see RED Comp #8511.