TUCSON, AZ (November 27, 2024) — The Country Club of La Cholla, a 217-unit independent and assisted living community on Tucson’s north side sold to Ventas (NYSE: VTR) a publicly traded REIT, for $78,500,000 ($361,751 per unit).

The Country Club of La Cholla is a resort-style, full-service senior living community that sits on 10.6 acres at 8700 N. La Cholla Blvd. The 236,466 square-foot property is located near the Omni Tucson National Resort and Golf Course, Foothills Mall, Northwest Medical Center, and various restaurants and entertainment venues. The property averaged 97 percent occupancy in 2019 when it was last sold to Chicago Pacific Founders and managed by Grace Management, a wholly-owned subsidiary and management arm of CPF Living Communities.

The Country Club of La Cholla offers independent living, assisted living, and respite care for residents.

The Country Club of La Cholla offers seniors the latest comfort amenities that they would enjoy in the comfort of their own homes. There is a beautician on-site, meals are provided, some activities are offsite, outdoor common areas are available, devotional services are available on-site, a swimming pool /hot tub is available, and indoor common areas are available for all residents.

Residents enjoy a full schedule of social, educational, and entertaining activities. Structured programs help residents maintain a high quality of life. Many of the activities encourage residents to socialize and develop friendships with other residents, with a minimum age of 55 years.

To learn more, subscribers can refer to RED Comp #11574.

TUCSON, AZ (November 26, 2024) — CBRE’s Tim Healy represented Sanchez Properties LLC in the $575,000 ($3.22 PSF) sale of 4.1 acres of land at 9368 East Old Vail Road to Brandon Investments LLC of Russellville, Arkansas, Mr. Christopher Grace, member.

It is located within proximity to several amenity-rich intersections, including Houghton Town Center, and is part of the Rita Ranch master plan community. Sewer utilities from Pima County Wastewater, water from the City of Tucson, electric from Tucson Electric and Power, and natural gas service confirmed from Southwest Gas.

The heavy industrial-zoned land, aka lot 7 in Rita Commerce Center, is ready for construction. However, we could not determine the buyer’s plans for the property.

CBRE’s Buzz Isaacson represented 2632 N Campbell LLC in the sale of 2632 N Campbell Avenue, a 1,750-square-foot office building that sold for $410,000 ($234 PSF) to RIL Holdings, LLC, Mr. Chase Rasmussen, member.

Built in 1959, the property is located in North Campbell Estates on a 3,600-square-foot lot. Previously occupied as a law firm dba Leonardo Law Offices, the buyer is also a personal injury attorney with offices in Tucson and Glendale, AZ.

Both sales were completed on November 13, 2024.

For more information, Healy can be reached at 520.323.5119 and Isaacson at 520.529.1300.

To learn more, subscribers can refer to RED Comp #11589 and #11588.

TUCSON, ARIZONA (November 21, 2024)—Richmond American Homes (Michael Del Castillo, Division President, and Kevin McConnell, Land Acquisition Manager) acquired the last remaining parcel in the Rivers Edge PAD, in the heart of Oro Valley, that was approved in 1994. Richmond American paid $1,400,000 ($66,666 per lot) for 21 platted and engineered lots.

The lots are 55’ X 120’ with breathtaking views of Push Ridge and the Catalinas.

Melcor Development Arizona, Inc., was the seller. John Carroll and Will White of Land Advisors Organization in Tucson handled the transaction.

“Congratulations to Richmond American Homes on this closing,” Carroll said. “Finding platted and engineered lots in the heart of Oro Valley is a monumental challenge as the area continues to be a highly desirable location.”

Carroll and White can be reached at (520) 514-7454 for more information.