LCS®, Harrison Street Real Estate Capital and Ryan Companies US, Inc. announce today the closing of financing and start of construction for Clarendale of Chandler. Clarendale of Chandler will be a 262,000 square-foot Class A senior living community that will provide a full continuum of care to its future independent, assisted and memory care residents.
“We are thrilled to bring the Clarendale brand with our trusted partners, LCS and Harrison Street, into the Southwest,” said Tyler Wilson, Vice President of Real Estate Development, Ryan Companies US, Inc. “Our integrated team is eager to deliver this uniquely customized senior living lifestyle community to future Chandler residents.”
The resort-style community will span across 16.5 plus acres and include 116 independent living units, 64 assisted living units, 38 memory care units and 14 1-story duplex villas. There will be multiple amenities including a bistro, outdoor dining, pool courtyard with locker rooms, strength and fitness rooms, theater, salon, on-site medical care, a large community room and a pub with billiards. Clarendale of Chandler will be located at the northwest corner of Gilbert Road and Riggs Road.
“Our goal of expanding the Clarendale brand across the country continues to be realized with this new project. We have sought out and will continue to grow in markets like Chandler as it represents a community where seniors can thrive,” said Dave Erickson, Vice President of Real Estate Development with Ryan Companies. “The amenities being offered will create exceptional spaces that will make Clarendale of Chandler a vibrant housing choice in Arizona.”
Clarendale Chandler will be the first senior living project in Arizona to be designed by Ryan Companies architecture and engineering team, Ryan A + E. Interior design is being provided by Direct Supply Aptura. This is the sixth development by the Ryan and LCS partnership , and the first in Arizona. Other Clarendale communities either open or under construction are located in Illinois, Indiana and Tennessee.
“The LCS real estate platform continues to grow; we’re excited about the Clarendale communities and our expanding partnership with Ryan Companies, which is part of our key strategy,” says Dan Lahey, Vice President and Managing Director of Investments for LCS. “With the groundbreaking of Clarendale of Chandler, we now have six Clarendale communities in the Chicago, Nashville, and Phoenix metros, and an active pipeline of future developments. The Clarendale communities will provide a great lifestyle choice to seniors in these markets.”
Ryan Companies US, Inc. is the developer, general contractor and architect for the community and management will be provided by Life Care Services®, an LCS Company. Life Care Services® manages four additional communities in Arizona including Friendship Village Tempe, Tempe; Sagewood, Phoenix; Savanna House, Gilbert; and Sierra Winds, Peoria. It is anticipated that Clarendale of Chandler will be opening in the spring of 2019.
Based in Des Moines, Iowa, and established in 1971, LCS is a leading provider of high-quality senior lifestyle products and services. The LCS Family of Companies focus on development, operations management, marketing and sales management, and strategic planning for Life Plan Communities, formerly referred to as Continuing Care Retirement Communities (CCRC), and rental independent living, assisted living, and memory care communities nationwide. The company also provides a full-service real estate private equity enterprise, insurance, national purchasing consulting services and in-home care. The companies of LCS serve thousands of seniors across the nation. For more information, visit LCSnet.com.
About Life Care Services®
Life Care Services, An LCS Company, established in 1971 and based in Des Moines, Iowa, is the third largest manager of full-service senior living communities. Life Care Services currently provides operations, and marketing and sales management services for not-for-profit and for-profit Life Plan Communities, formerly known as Continuing Care Retirement Communities (CCRC), and rental independent living, assisted living, and memory care communities nationwide. For more information, visit lifecareservicesLCS.com.
About Harrison Street
Harrison Street Real Estate Capital LLC is one of the leading real estate investment management firms exclusively focused on the Education, Healthcare and Storage sectors. The firm has created a series of differentiated investment strategies across multiple risk/return platforms. Headquartered in Chicago, the firm employs a 115 person team and has approximately $12.5 billion in assets under management. For more information, please visit www.harrisonst.com.