Bay 9 Holdings Agrees to Buy Edgemere CCRC in Dallas, Install New Operator

by Jeff Shaw

DALLAS — Bay 9 Holdings LLC, an affiliate of Lapis Advisers LP, has agreed to acquire Edgemere, a continuing care retirement community (CCRC) in Dallas. The high-profile asset has been operating under a forbearance agreement with its lender, UMB Bank, since January 2022.

Located on a 16-acre site, Edgemere features 304 independent living units, 60 assisted living units, 31 memory care units and 72 skilled nursing beds. The initial phase of development opened in 2001.

Although the seller is not disclosed, Lifespace Communities acquired Edgemere from Senior Quality Lifestyles Corp. in 2019 and the community is still listed on Lifespace’s website.

Bay 9 plans to install a new operator, Long Hill at Edgemere LLC, a wholly owned subsidiary of United Methodist Homes (UMH).

Details on the transaction, such as the sales price, were not disclosed.

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