Cadence Living, an owner, developer and operator of senior living communities, announced the purchase of 7.49 acres of land at 100 W. Queen Creek Road in Chandler in partnership with Global Senior Housing. The 7.49-acre land parcel at the northwest corner of Arizona Avenue and Queen Creek Road in Chandler sold for $3,257,134.
“This transaction has been three years in the making,” says Tim Dulany, senior vice president with Colliers International in Arizona. “All neighboring property owners and parties to the deal worked tirelessly and creatively to formulate a project design that would satisfy everyone’s goals and requirements. The resulting senior housing community will be a wonderful asset to serve the property type demand for the area and has been enthusiastically embraced by the City of Chandler.”
Cadence at Ocotillo, the Scottsdale-based company’s fourth community in Arizona, marks an overall investment, with partners, of more than $200 million into their senior communities in the state, with an additional $100 million projected in a future pipeline.