The 127-bed Friendship Villas at La Cholla at 6505 N La Cholla Blvd in Tucson sold recently to Soltera Assisted Living Homes of Scottsdale, AZ ( Steve Jorgenson, CEO) for $15.4 million ($121,260 per bed). The seller was an owner operator, La Cholla Properties, LLC (Phillip A Secker, manager).

Friendship Villas is an Assisted Living, Parkinson’s Care and Memory Care Neighborhood, licensed for ALL three levels of Assisted Living, including: Supervisory, Personal and Directed Care. Five uniquely designed Custom Villas, allow residents to Age in Place, with all the comforts of home. At Friendship Villas at La Cholla, important services such as Physical Therapy, Occupational Therapy, Speech Therapy, Home Health, Wound Care, Mobile Labs, Mobile Dental, Podiatry and even Hospice, are brought into the community, so that residents can receive such services in the comfort of their home.

Located in Northwest Tucson, each of the 5 custom villas offer spacious suites, wonderful indoor and outdoor common spaces that both residents and their families take full advantage of throughout the day. Each suite was created with an emphasis on resident comfort, family–style privacy, natural lighting, accessible private and public bathrooms as well as tranquil spaces to enjoy the beauty of Tucson.

Solterra Management Group is a full-service owner and operator of five other Senior Living Communities in Arizona and Colorado and a Home Care Service company in Colorado. Solterra’s service focus is comprehensive in that the company provides short term, long term and in home senior care to over 450 residents in communities located in Yuma, White Mountains, Castle Rock, Chandler, and Phoenix.

To learn more, see RED Comp #4265.

MARANA, AZ — LGI Homes recently purchased 99 partially improved SFR lots for $4.33 million ($43,700 per lot) at Farm Field Five in North Marana from Dolphin Partners of Irvine, California. Farm Field Five is a 224 lot subdivision portion of Vanderbilt Farms.

Builders have purchased, optioned or will be under construction for 548-lots in North Marana, representing over $20 million in land acquisition and lot development investment for the area over the past 12 months.

Will White and John Carroll with Land Advisors Organization handled the LGI transaction.

White says, “This kind of land acquisition and development activity in one immediate area is a big eye opener for the market. North Marana has gone from one to six homebuilders in 12 months. With all of the new amenities, the story is getting better all the time. The fuse has been lit and we expect the momentum in this area to keep rolling. I think we will be talking ALOT about north Marana over the next few years.”

KB Home, Lennar, Richmond American, and Meritage are building at Gladden Farms. DR Horton has also started at Fianchetto Farms and LGI now at Farm Field Five.

“It is no secret that Tucson metro area had a much better selling year for new homes in 2016 and has seen a surge in employment announcements with potentially more on the way. We are noticing that the builders have recognized this and are working to position themselves for big things to come! We are now into discussions on the next phases of this area with several homebuilders,” White concluded.

“The North Marana area isn’t pioneering, it was already established.  The Gladden Farms master-planned community has over 1300 existing homes. What we are seeing now is the synergy of new amenities, great family lifestyle, and builders taking advantage of new opportunities. They are making a commitment to this area because of the proven history and the strong future potential.”

White and Carroll also represent the Gladden Farms community.

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

To learn more, see RED Comp #4274.

TUCSON, AZ — Plaza Azteca at 3553 S 12^th Avenue in Tucson sold to a San Jose-based NAI Investments for $570,00 ($31 PSF). The property is an 18,551-square-foot strip center, built in 2000, on approximately 1.8 acres with 14 storefronts

Located on the corner of South 12th Ave. and Veterans Blvd, it is approximately .6 miles west of the Southern Arizona Veterans Hospital and within minutes of Interstate 10, Interstate 19 and downtown Tucson.

Well-built with ample parking and curb appeal the property sold 78.6% occupied and 2,500-square-feet vacant space at time of sale.

Jade Bossert with Tierra Antigua represented both the buyer and seller, Mark Bequette of Sequim, Washington.

Bossert said, “We received nine offers on the property which shows the tremendous interest by investors for this type of retail properties.”

The new owner plans to re-position and re-tenant the center.

For more information, Bossert should be reached at 520.544.2335.

To learn more, see RED Comp #4237