Closed Senior Living Development
The Bluffs of Flagstaff
Flagstaff, AZ
Full-service senior living community at 3112 E. Butler Avenue in Flagstaff, Arizona, offering independent living, assisted living, and memory care, operated by Civitas Senior Living. Opened in 2023, The Bluffs of Flagstaff features resort-inspired amenities including an on-site steakhouse, bistro, pub and wine bar, on-site rehabilitation services, and walking trails with mountain views, set amid the scenic pines of northern Arizona.
- Investment
- Preferred Equity
- Location
- Flagstaff, AZ
- Asset class
- Senior Living
- HC2 participation
- $12,010,500
- Units/Beds
- 212 units
The Opportunity
Why we invested
The investment thesis paired powerful demographic tailwinds - the rapid growth of the 80+ population - with Flagstaff's supply-constrained mountain market, where development barriers limit competing senior housing product. Partnering with Civitas Senior Living, an experienced full-continuum operator, HC2 structured its investment as preferred equity, providing priority in the capital stack while the community stabilizes.
Our portfolio showcases our ability to uncover unique opportunities, navigate complex transactions, and deliver strong, risk-adjusted returns for our partners.
Execution
Our role in the deal
Sourcing
We identify high-quality assets in supply-constrained markets and partnering with proven operators.
Asset Management
We provide investors quarterly reports, market updates, construction camera access, and audited financials.
Underwriting team
Gabriel Hidalgo, Doug Conner and Jim Crigler review and underwrite every HC2 Capital investment together.
Meet the teamThe property
Project gallery
Main entrance of The Bluffs of Flagstaff on E. Butler Avenue. 
The community set among the pines of northern Arizona. 
Aerial view of The Bluffs of Flagstaff. 
Indoor therapy pool at The Bluffs of Flagstaff. 
Dining room at The Bluffs of Flagstaff. 
Kitchenette in a Bluffs of Flagstaff residence.
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Investors
Investor Portal
Existing investors can access statements, K-1s and distribution history.
