Sun City and Sun City West are age-restricted communities in the Northwest Valley. A second page for Sun City West would say the same thing, so both towns are here. What we finance is commercial: a medical building, a retail center, a small office that leases to the trade area. We do not originate loans on single-family houses, and we do not lend to the HOA as if it were a commercial asset.
Medical office is the request we expect most. That is life company, bank, or CMBS, underwritten to the tenant and the lease. It is not automatically a HUD 232 loan. HUD 232 is residential care and assisted living, and that conversation belongs on the seniors-housing page, with a HUD-approved lender. We do not claim MAP or LEAN approval. Retail in these trade areas is the same life-company or bank underwriting used everywhere else.
Peoria and Surprise are the neighboring city pages. None of the three has a published tombstone. Seniors housing, if that is actually the asset, should start on the seniors page rather than being forced into this geography page.
Senior debt for Sun City
- Medical office
The common Sun City commercial asset. Not HUD 232 unless it is residential care.
- Bank and credit union
Portfolio debt for a leased Sun City or Sun City West building.
- Seniors housing
Assisted living and residential care. A different underwriting path from a medical office.
- Life company
Stabilized retail or medical cash flow an insurance company will hold.