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SPRING, VICTORIA and LUBBOCK, Texas — Cain Brothers has arranged the sale of three Lutheran Social Services of the South (LSSS) senior living facilities for undisclosed prices.
A joint venture of Brookdale and HCP acquired two of the communities: The Village at Gleannloch Farms, a 206-unit continuing care retirement community in Spring, and Copperfield Village, an 86-unit independent living facility in Victoria.
Prime Life Communities acquired the final community, Wedgewood South, a 49-unit assisted living facility in Lubbock.
As a result of the transactions, LSSS was able to retire all of its outstanding debt and retain net proceeds to fund its mission.