MESA, AZ – The first residents are moving in this week at Aviva, the East Valley’s newest luxury apartment community. Leasing has gone very well at the new $63 million property with 325 apartments, which is opening in various phases between now and June. Aviva marries luxury design elements with “green” building features to make the kind of smart, amenity-rich apartment community that today’s renters demand. It is the first multifamily community in the area built to National Green Building Standard (NGBS) certification.

“We are incredibly excited to welcome our first residents and to be able to offer them a luxury lifestyle and smart, conscious living in such a gorgeous community,” said Housing Trust Group President and CEO Matthew Rieger. “With Aviva, we made no compromises – our residents can feel excellent about their reduced impact, but still bask in an array of amenities that are unrivaled anywhere.” 

This is award-winning multifamily developer Housing Trust Group’s first development in Arizona. Monthly rents at Aviva, which offer one-, two- and three-bedroom floor plans, start at $1,050. The luxury community is professionally managed by Mark-Taylor and will benefit from the robust network of community engagement and name awareness that Mark-Taylor-managed properties delight in.

“There has been an unprecedented amount of interest in Aviva already,” added John Carlson, Mark-Taylor Residential President. “Aviva’s luxury apartments and countless amenities have resulted in the strongest pre-lease up in our 30+ year history.” 

Located at 8340 E Baseline Road, Aviva’s groundbreaking new “green” apartment homes feature open floor plans with expansive kitchens, quartz and granite countertops, stainless steel appliances, 9-foot ceilings with vaulted ceilings on upper floors, private master baths, wide-plank flooring, and private patios with storage. All units will also be equipped with the highest-speed internet and cable TV available in the market. 

Amenities at Aviva include one of the largest pools in Arizona — a resort-style 150-foot long outdoor infinity pool — surrounded by ultra-chic cabana beds, multiple Jacuzzis, and a 120-inch video screen. A state-of-the-art-health and wellness center includes smart cardio machines, free weights, boxing, and a yoga/spin studio with a 24/7 virtual trainer. The spectacular clubhouse also features a complete media and game room, lounge space and billiards. There are also outdoor exercise stations, fire pits for brisk desert nights, premium outdoor kitchen grills, a Ramada with smart technology, electric car charging stations, a playground with covered seating areas, a basketball court, and one of the largest residential dog parks in the state.

Built to the National Green Building Standard (NGBS), green elements at the community include dual glazed/high efficiency windows, weather-sealed insulated doors, Energy Star – rated appliances, low-VOC paints and adhesives, low-flow faucets, drought-tolerant native plants, low-water-use landscaping, low-energy-use lighting and wide-plank “green” flooring throughout. NGBS provides practices for the design, construction, and certification of green multifamily residential buildings.

Powered by WPeMatico

NATIONAL CITY, CA – Walker & Dunlop announced that it structured an $82,077,000 loan for Paradise Village, located just outside of San Diego, in National City, California. The transaction for the Class A, independent living, helped living, and memory care community represents Fannie Mae’s first Green Rewards loan backed by a seniors housing property.

Based out of the Company’s Dallas, Texas office, Managing Director Jeff Ringwald and Senior Vice President Bill Jackson led the team. The ten-year loan provided a two-year period of interest only payments and a 30-year amortization schedule for Generations Senior Living (the “Sponsor” or “Generations”), a long-standing, repeat Walker & Dunlop borrower. The financing replaced a previous construction loan and provided cash-out to enable the financing of an adjacent, newly developed memory care facility when stabilized.

Mr. Ringwald commented, “It was a pleasure working with Chip Gabriel and the Generations team on the first Green Rewards financing for a seniors housing property. We worked closely with the Fannie Mae team to leverage the Green Rewards program and deliver exceptional terms, which included the desired loan proceeds and a very low rate for the Sponsor.” In addition to lower interest rates, the Green Rewards program provides up to five percent in additional loan proceeds and free energy and water audit reports to finance green improvements. As part of the Green Rewards program the Sponsor is in the process of installing a solar and battery pack system to enhance energy efficiency and yield substantial future utility savings at the property.

Generations’ Chip Gabriel stated, “As always, it was truly a pleasure working with Jeff, Bill, and the Walker & Dunlop team to refinance Paradise Village. Walker & Dunlop provided us the same fantastic service they always do, and Jeff and Bill found several creative ways to achieve the best results for Generations and the residents at the community. Through their hard work we’ve secured financing at Paradise Village for the next ten years.  We look forward to working with Walker & Dunlop again soon.”

Built in 2009, Paradise Village consists of seven four-tale buildings and 394 units. Community amenities include a pool, clubhouse, performance stage, meeting and banquet rooms, a library, leisure activity shop, art studio, and several shops and services. The property also enjoys an ideal location that is adjacent to Paradise Valley Hospital and within walking distance to several restaurant, entertainment, and grocery options. The property was developed through a partnership between an affiliate entity of Generations Senior Living and a faith-based, non-profit hospital that has nearly 20 hospitals and 280 clinics under its management.

Powered by WPeMatico

COLUMBIA, SC – Watercrest Senior Living Group, based in Vero Beach, FL, and Titan Development Real Estate Fund I announce the groundbreaking of Watercrest Columbia Helped Living and Memory Care in Columbia, SC.  Shiel Sexton Company will start construction of the 107-unit, resort-style senior living community this month, with plans to open in late Spring 2019.

Watercrest Columbia will be a signature Watercrest product offering 75 helped living and 32 memory care apartments with premium accommodations, exceptional amenities and world-class care.  Designed by LifeBUILT Architecture, Watercrest Columbia will include a stunning promenade, pool, fireplace, signature water wall, multiple dining venues, children’s play space, grand balconies and Southern style outdoor living spaces. Watercrest’s uniquely designed Market Street Plaza, will showcase an ‘outdoor’ streetscape with numerous LifeBUILT programming touches; a highlight and crucial element of their multi-sensory memory care programming.  

“Aligning ourselves with Titan Development Real Estate Fund I allows us to build upon our respective and complementary strengths, expanding into further markets to provide exceptional levels of service, quality and innovation to even more seniors and their families,” said Marc Vorkapich, Principal and CEO of Watercrest Senior Living Group. “We are continually striving to enhance all aspects of the senior living industry, an accomplishment realized by outstanding relationships with forward-thinking partners.”

With multiple senior living projects in development throughout the southeast, Watercrest principals, Marc Vorkapich, CEO and Joan Williams, CFO, are setting new standards of quality for seniors and their families in the development of upscale senior living communities.

Titan Development Real Estate Fund I (TDREF I) is a $200 million private equity real estate fund established in 2017 to raise and invest equity in approximately $600 million of Titan Development’s existing pipeline and additional investment opportunities. This investment adds to TDREF I’s growing senior living portfolio which now includes projects in New Mexico, Florida, and South Carolina. 

“Titan Development Real Estate Fund I is delighted to have the opportunity to invest in Watercrest Columbia,” said Coe Schlicher, Fund Manager.  “The Watercrest team is thoughtful and analytical in their approach to evaluating markets, design, and projecting the operating performance of a community.  Their team’s experience and track record are among the best we have seen in the industry.” 

The TDREF I team provides fund management, strategic investment, and macroeconomic/market analysis services.  The Senior Living team is headquartered in Austin, Texas with additional TDREF I offices in San Antonio and Orlando.     

Powered by WPeMatico