Ryan Companies and Cadence Senior Living Reveal New Project

New partnership launches first project, Azure Mesa

Mesa, Ariz. — In partnership with Cadence Senior Living, Ryan Companies US, Inc. is designing, developing and building Azure (\ˈa-zhər \) Mesa, an upscale senior living community with an “age-in-place” model that will accommodate a total of 170 private pay, market-rate units.

The joint-venture project will consist of 142 independent or assisted living units and 28 units devoted to memory care. Construction on the 183,000-square foot project is now underway and expected to be complete in Summer 2019.

HFF worked on behalf of Ryan Companies and Cadence to arrange a joint venture equity partnership with an institutional partner.

Cadence Senior Living and Ryan Companies have entered into a partnership to maximize collective strengths and develop premier senior living housing that empower residents to live their most meaningful lives. The values and goals of both companies extend into the Azure brand by creating welcoming and rejuvenating properties for residents and surrounding neighbors.

“Partnering with Ryan Companies on this exciting community fulfills our mission of creating best in class living opportunities for seniors.  We look forward to our shared vision becoming a reality for the residents of Mesa,” said Rob Leinbach, principal, Cadence Senior Living.

The Azure concept is focused on hospitality through meaningful lifestyle experiences that include cutting-edge, high quality programming.

“We are thrilled to be kicking off construction on the first Azure project with Cadence Senior Living,” said Tyler Wilson, vice president of real estate development, Ryan Companies. “Together, we will develop industry-leading senior living communities that will foster vibrant experiences and lasting relationships for residents.”

Azure Mesa is located on an eight-acre site adjacent to Granite Reef Park within close proximity to restaurants, retail, recreation and medical services. Onsite amenities include fine dining, private dining, a bistro and pub lounge, a movie theater, hair salon, craft studio, lounges and multipurpose spaces, a fitness center, exam rooms and secure memory care gardens.

Ryan A+E is designing the community to reflect the architecture and character of the surrounding area and Studio SIX5 is focused on creating an inviting interior for the future residents in Mesa. The Cadence-Ryan team is working on a second Azure location in North Scottsdale and recently received Scottsdale City Council approval.

Ryan Companies currently has over 600,000 square feet of senior living projects under construction in Arizona and nationally has completed over 4 million square feet of senior living communities throughout the country. Cadence Senior Living has over 30 years of senior housing development and management experience.

 

 

About Ryan Companies
Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, architect, capital investment consultant, builder and real estate manager with a focus on bringing lasting value to its customers and the communities in which it works. Ryan market depth includes retail, industrial, healthcare and senior living. Ryan development and corporate build-to-suit work spans a wide range of product types including office, mixed-use, hospitality, multifamily housing and mission critical facilities. Ryan has nearly 1,300 employees in 15 offices and has completed projects in 38 states. For more information, visit ryancompanies.com.

About Cadence Senior Living
Cadence is an owner, operator and developer of senior living communities based in Scottsdale, Arizona.  Cadence executives have over 100 years of real estate, senior housing development and senior housing management experience.  Cadence emphasizes the importance of quality care and creates comfortable, vibrant communities that offer residents exceptional independent living, assisted living and memory care lifestyle options, proving that the “rhythm of life” is ever present.www.cadencesl.com

About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.  HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.com or follow HFF on Twitter @HFF.