HFF secures financing for independent living community
HFF has announced that it has secured $6.5 million in financing for Discovery Point, a 183-unit, independent living community in Mesa, Arizona.
HFF worked on behalf of the borrower, Campbell-Hogue & Associates, Inc., to secure the seven-year, fixed-rate loan through a national lender that will securitize the loan.
Discovery Point is a full-service, seniors independent living facility located at 6210 East Arbor Avenue in Mesa, Arizona approximately 28 miles east of downtown Phoenix. Completed in 1995, the three-story property is 94.54 percent leased and includes 183 units averaging 600 square feet each. Services include meal preparation, home maintenance, personal and group transportation, resident wellness programs and housekeeping. Amenities consist of lounges on each floor, a library, heated swimming pool, activities and billiards room, outdoor gazebo and barbecue area. The property is managed by Guardian Management.
The HFF team was led by managing director Casey Davidson.