Single-asset senior living development. The Company is to acquire about 3.59 acres (2.57 net developable) at N. Scottsdale Rd and E. Osborn Rd, Scottsdale, AZ, entitle and build about 246 units (independent living, assisted living, memory care) with ground-floor retail and restaurant space, lease and stabilize it through a third-party facility manager, then sell about five years after the Final Admission Date. Class I targets income; Class G targets opportunistic growth.