Willis Development open Sage Desert, 106-Unit Assisted Living and Memory Care Facility in Tucson,
By: Dekel Capital
The community, which opened its doors to new residents mid-May, features a total of 106 units consisting of 86 assisted living units and 20 memory care units with an array of first class amenities including a grand lobby with multiple fireplaces, a Bistro, movie theater, sunrooms, state of the art fitness center, demonstration kitchen, pub, a sports lounge with multiple big screen TVs and pool table, beauty salon, spa with hydro massage therapy, and restaurant style dining. For residents who enjoy spending time outdoors, Sage Desert offers a private putting green, resident garden, and dog park.
The superior location boasts scenic views overlooking the Sonoran Desert and beautiful Catalina Mountains. That in combination with remarkable demographics, has resulted in strong pre-leasing and continued welcoming of new residents.
"We are looking to continue to expand our presence in the senior housing, assisted living and memory care sector through a continued development collaboration with Willis Development."
The project was capitalized with equity capital from Dekel Strategic Investors and construction financing from East West Bank. This is the second senior living development project that Willis Development and Dekel have completed. The two companies are completing a third senior assisted living and memory care project in Thousand Oaks and have two additional projects in Southern California that are slated for construction start later this year. Vancouver, WA based, Milestone Retirement, is operating the property. The project, designed by Jeffrey Demure + Associates along with StudioSix5, was constructed by W.E. O'Neill.
About Willis Development:
Willis Development was founded by Wayne Naphtal with the intent to develop senior living properties. Mr. Naphtal has over thirty years of accomplished real estate development experience from acquisition to project disposition. Prior to forming Willis Development, Mr. Naphtal founded First Family Homes and led the full cycle of development from entitlement to disposition for multi-family residential properties in excess of $500 million. In addition to Sage Tucson, Mr. Naphtal has recently completed a 120 bed Assisted Living + Memory Care facility in Fresno, CA and is under construction on a 130 bed Assisted Living + Memory Care facility in Thousand Oaks, CA.
About Dekel Strategic Investors:
Dekel Strategic Investors ("DSI"), a division of Dekel Capital, provides equity capital to real estate developers engaging in multifamily and senior housing development projects. To date, DSI has invested over $150M through joint-venture partnerships for ground-up development.
Dekel Capital is a Los Angeles-based real estate merchant bank with proven expertise in capital market advisory and private equity in commercial real estate. The firm serves an elite group of commercial real estate operators, investors and developers with an exclusive, boutique approach, allowing them to create tailored solutions that address unique capital challenges. Over the past 18 years, the team at Dekel Capital has financed a combined $3 billion of structured transactions. For more information, please visit www.dekelcapital.com.