Kayne Anderson Real Estate bought the Watermark at Continental Ranch Assisted Living, Memory Care Facility for $29.5 million ($273,148 per unit) from Link Senior Development and Watermark Retirement Communities in a joint venture and one that Watermark will continue to manage the operations.

Developed this year, the 96,000-square-foot asset features 78 assisted living and 30 memory care beds situated on four acres in the Silverbell Corridor, at 8689 North Silverbell Road in Marana.

The Watermark at Continental Ranch gets its name from Continental Ranch, a master planned community in the heart of Marana at the base of the Tucson Mountains. The area is home to several other master planned communities, including Sunflower, a nearly 1,000 home 55+ active adult community.

Assisted Living apartments at Watermark feature kitchenettes, comfortable floor plans with large windows, many with mountain views. The community is of good size so that residents will have abundant social opportunities with neighbors – planned or spontaneous – but not so large that there is a sense of anonymity. The community also features a theatre, billiards room, craft room and card rooms for the active seniors.

The community’s Memory Care neighborhood features family-style dining (where the family is welcome to join in meals), care by universal caregivers called Nayas, personalized programming and an environment designed to evoke the warm communal comfort of family homes, dude ranches or bed and breakfast.

The two wings of the main two-story structure are connected by an interior landscaped courtyard. In addition, a large terrace and four acres of landscaped grounds provide ample opportunities for the indoor-outdoor living and dining that Tucson is renowned for.

Lenity Architecture of Salem, OR provided architectural design and oversight while Seabold Construction of Beaverton, OR served as General Contractor.

Link Senior Development announces the completion of construction for the 108,471 square foot Lodge at North Ogden. The 122 unit facility contains 18 Independent Apartments, 82 Assisted Living Apartments, and 30 Memory Care beds. The facility is located N 400 E St and E 2600 N in North Ogden, Utah. The Lodge at North Ogden is Link Senior Development’s second project in Utah.

The Lodge at North Ogden has nineteen distinct floor plans to meet a range of resident needs. From private memory care apartments to share two bedroom-two bathroom independent and assisted apartments.

The Lodge at North Ogden will be managed by Watermark Retirement Communities of Tucson, AZ. Ankrom Moisian Associates of Portland, OR provided all architectural and oversight, Gerding Construction of Corvallis, OR provided General Contractor services, and UMB of Phoenix, AZ provided construction loan financing.

Link Senior Development, successfully completed the sale of a 409-unit assisted living and memory care portfolio in four markets across Arizona and Utah to Medcore Partners of Dallas, TX. With a total acquisition cost of $98 million, this transaction represents the first tranche of a $130 million portfolio acquisition of five properties and 531 total apartments. The fifth and final property is currently under construction, and MedCore is slated to close on this community in May of this year when construction is expected to be completed.

The communities involved in this initial acquisition include three assisted living and memory care assets in Arizona: Caliche Senior Living in Casa Grande with 83 Assisted apartments with 33 Memory Care beds; Joshua Springs Senior Living in Bullhead City with 75 Assisted apartments with 30 Memory Care beds and White Cliffs Senior Living in Kingman with 87 Assisted apartments with 30 Memory Care beds. In addition, the 75 Assisted apartments with 30 Memory Care beds Summit Senior Living in Kearns, Utah, completes the first tranche of the portfolio acquisition.

The projects are being managed by Watermark Retirement Communities, a national leader in senior living design, programs and operations. Based in Tucson, Arizona, Watermark has substantial knowledge in the Arizona and Utah markets, and in total, Watermark owns or operates 56 communities in 21 states around the country.

The Link Senior Development group looks forward to continued partnership with Medcore Partners and Watermark Communities on developments in the future.