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KATY, Texas — Blue Moon Capital Partners LLC and LCS have formed a joint venture to build The Delaney at Parkway Lakes, a 207-unit independent living, assisted living and memory care community in Katy, approximately 30 miles west of Houston.
This is the first joint venture between Blue Moon and LCS.
In December of 2014, Hawkeye Partners, an Austin-based private equity firm, announced a $175 million capital commitment to Blue Moon. It was not disclosed how much of that capital will be used to build The Delaney.
Blue Moon is a Boston-based company that matches institutional investors with seniors housing operators. LCS is a Des Moines, Iowa-based seniors housing operator that focuses heavily on continuing care retirement communities.