Kayne Anderson and Watermark Retirement Communities Partner on Continental Ranch Watermark Asset - Real Estate Daily News
MARANA, ARIZ. — Kayne Anderson Real Estate bought the Watermark at Continental Ranch Assisted Living, Memory Care Facility for $29.5 million ($273,148 per unit) from Watermark Retirement Communities in a joint venture and one that Watermark will continue to manage the property.BMO Harris Bank’s Healthcare Real Estate Finance group provided a $21 million credit facility for the acquisition of the assisted living and memory care community in Marana. The borrowers are Kayne Anderson Real Estate and Watermark Retirement Communities.