DALLAS —Stroud Development and Stroud Investments, in a joint venture with Orchard Park Senior Living, have sold four assisted living and memory care communities in the Houston, Odessa and Austin markets to ROC Seniors Housing Fund Manager. The sale, valued at over $70 million, was financed using the HUD 232 debt program.
The sale of these assets is in conjunction with the now-open The Orchard at Katy development near Houston. When fully leased, the community will serve 97 residents in both assisted living and memory care.
Architectural firm Arrive Architecture Group out of Bedford, Texas, designed the Orchard Park communities. Each community serves 57 assisted living residents and includes a separate secured wing that serves 40 memory care residents.