PHOENIX—HFF has secured $6.5 million infinancing for Discovery Point, a 183-unit, independent livingcommunity in Mesa.
HFF worked on behalf of the borrower, Campbell-Hogue& Associates, Inc., to secure the seven-year,fixed-rate loan through a national lender that will securitize theloan.
Discovery Point is a full-service, senior independent livingfacility located at 6210 E. Arbor Ave., approximately 28 miles eastof downtown Phoenix. Completed in 1995, the three-storyproperty is 94.54 percent leased and includes 183 units averaging600 square feet each. Services include meal preparation, homemaintenance, personal and group transportation, resident wellnessprograms and housekeeping. Amenities consist of lounges oneach floor, a library, heated swimming pool, activities andbilliards room, outdoor gazebo and barbecue area.
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