TUCSON, AZ — Chicago-based Enlivant, one of the nation’s largest owners and operators of senior living communities, TPG, a leading global investment firm, and TPG Real Estate, the real estate platform of TPG, are acquiring a series of large, strategic portfolio acquisitions from several unrelated organizations. As part of these acquisitions, Brookdale Catalina Foothills was purchased for $12.25 million ($127,604 per bed).  The 96-apartment units at 3701 N Swan Road in Tucson has been rebranded to Foothills Place with assisted living and memory care units.

The seller was Brookdale affiliate, BREA Tucson LLC of Brentwood, Tennessee.

The acquisitions result in significant operational expansion for Enlivant, adding another 48 communities, representing 3,084 independent living, assisted living, and memory care apartment units across 14 states, to the company’s growing national platform. Sixteen of the communities recently closed, and the remaining thirty-two communities are expected to close over the next several months, subject to customary regulatory closing conditions.

“These strategic acquisitions, which directly advance our mission of enriching lives through meaningful relationships and vibrant communities, usher in a new and exciting era of robust growth at Enlivant,” said Jack R. Callison Jr., Chief Executive Officer. “Although these acquisitions expand the size of our national portfolio by nearly 40 percent, we continue to strive not to become the nation’s largest senior living provider, but to become the nation’s most trusted senior living provider.”

Enlivant (formerly Assisted Living Concepts) was acquired by TPG in 2013. Throughout the life of the growing partnership, Enlivant has continually enhanced its operational capabilities and expanded its national footprint through both organic growth and external acquisitions.

“These transactions mark a period of significant business momentum for Enlivant as they continue to scale their national operating platform while maintaining their founding commitment of providing each of their residents with the highest level of attentive, individualized, and personalized care in a home-like setting,” said Avi Banyasz, Partner and Co-Head of TPG Real Estate. “We look forward to growing our long-term partnership with Enlivant by fully and thoughtfully integrating these new communities and further building out this industry-leading business.”

The acquired communities are located in Arizona, Delaware, Florida, Georgia, Kansas, Illinois, Indiana, North Carolina, Ohio, Oklahoma, Pennsylvania, Tennessee, Virginia and West Virginia.

To learn more, see RED Comp #4199.

TUCSON, AZ — OVP Lot 10, LLC of Tucson (Kevin Morrissey, manager) purchased 0.26 acres of land at Old Vail Plaza for $715,000 ($62.36 PSF). Located on the Northeast corner of Houghton Road & Old Vail Road, across from Houghton Town Center, and adjacent to the Rita Ranch Vail Community in Tucson.

The property sold ready-to-build with roads and all infrastructure in place. The buyer plans to develop a multi-tenant retail building of approximately 7,200 square feet on this pad that will join such tenants as Native Grill, Taco Bell and Freddy’s Steakburger at the center.

The building plans also show a drive-thru at the easterly end-cap.

Nancy McClure and Michael Laatsch with CBRE in Tucson represented the seller, a local group of developers, in the transaction and McClure and Jesse Blum with CBRE of Tucson will handle the leasing of the new building.

McClure says there has already been interest shown in a portion of the building by a restaurant tenant and they hope to pre-lease the entire building before completion.

For additional information, McClure can be contacted at 520.323.5117, Laatsch should be reached at 520.323.5191, and Blum can be called at 520.323.5185.

To learn more, see RED Comp #4203.

Tucson Land and Cattle Company LLC (Jim Campbell, manager) exercised an option to complete Phase II at Mesquite at Wrightstown, a subdivision located southwest of Harrison and Wrightstown Road in Tucson. Phase I with 12 homesites is under construction by Mesquite Homes and Phase II will add an additional 12 homesites on 5.2 acres that closed recently for $240,000 ($20,000 per lot).

The seller was Saint Nicholas Diocese in Chicago for the Ukrainians that owned the land since 2002. Tucson Land and Cattle acquired Phase I, formerly known as Haciendas at Wrightstown, in a distress sale. This portion of the subdivision allows access to Phase II portion.

Mesquite Homes is delivering 1,200 – 3,000 square foot homes in this subdivision with a front yard and room for a pool in the back with many floorplans and feature options that make these great first homes and family move-up homes.

Phase II also has some buildings on the property to be razed

For more information on this subdivision, or other Mesquite Homes’ properties, contact them at 520.750.7440.

To learn more, see RED Comp #4101.