Phoenix & Southwest + Phoenix + Finance | April 13, 2022

Phase one of the Maravilla Scottsdale senior living project opened in 2012, with the second phase due for completion in 2023

Greystone Places $140M in Financing on Scottsdale Luxury Senior Living

Greystone placed $140 million in total financing for both the refinancing and new construction of senior housing in Scottsdale. The firm’s Senior Housing Capital Markets Team, led by Dallas-based Cary Tremper and Matt Miller, arranged the financing from a national bank on behalf of Senior Resource Group, LLC.

Phase I of the luxury senior living community, Maravilla Scottsdale, is comprised of a fully stabilized 217-unit independent living, assisted living, and memory care property that has received numerous awards and recognitions. It opened in 2012.

Phase II of Maravilla Scottsdale is a planned 193-unit independent living community on the same parcel. A mid-2023 completion is projected.

“It is always exciting to see our clients grow, and especially in the literal sense with this amazing Scottsdale asset almost doubling in size to meet the submarket demand for the highest quality of senior living,” said Tremper.

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Greystone's Tremper

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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