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Plano, Texas Hotel Property
Assisted LivingDevelopmentFinanceMemory CareNewsTexas

Eastern Union Secures $20.4M Financing for Assisted Living Conversion Project in Plano, Texas

by Hayden Spiess

PLANO, Texas — Eastern Union has secured two loans totaling $20.4 million to finance the conversion of a former hotel property in Plano, Texas, into an assisted living community. Totaling 137 room across six stories, the building was most recently operated as a Deluxe Inn and was previously a Comfort Inn. Built in 1984 and renovated in 2005, the property has been owned and operated by Maheshbhai Patel since 2022.  Meir Abrahamson of Eastern Union arranged the transaction, which included a construction loan, as well as the refinancing of an existing …

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Jim-Moore
NewsPeopleTexas

Widely Respected Seniors Housing Consultant and Prolific Author Jim Moore Dies at Age 90

by Hayden Spiess

FORT WORTH, Texas — Jim Moore, founder of prominent consulting firm Moore Diversified Services Inc. and a 2018 Senior Living Hall of Fame inductee, died Sunday at the age of 90. David Schless, president of the American Seniors Housing Association, made the announcement in an e-mail to the organization’s members on Tuesday. Quoting from Moore’s Hall of Fame biography, Schless wrote that “over the course of his 48-year career, there were few, if any, who had more influence over senior living from the 1980s through his retirement in 2019.” Moore launched …

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FinanceNewsSkilled NursingTexas

Berkadia Secures $13M Bridge-to-HUD Financing for Skilled Nursing Facility in Eagles Pass, Texas

by Hayden Spiess

EAGLES PASS, Texas — Berkadia has secured a $13 million bridge-to-HUD loan for the financing of a 104-bed skilled nursing facility located in Eagles Pass on the Mexican border. The name of the lender was not disclosed. The undisclosed borrower has operated the property since 2019 and will use the 18-month, interest-only financing to cover the cost to purchase the leased fee interest. Jay Healy of Berkadia Seniors Housing & Healthcare arranged the loan for a Fort Worth, Texas-based owner and operator of nursing homes.  Berkadia also plans to secure the …

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Novum Capitol View in Austin, Texas
Active AdultDevelopmentNewsTexas

AOG Living Breaks Ground on 168-Unit Active Adult Community in Austin, Texas

by Channing Hamilton

AUSTIN, Texas — AOG Living has broken ground on Novum Capitol View, a 168-unit active adult project in Austin. Scheduled for completion in late 2025, the property will offer studio, one- and two-bedroom units for residents ages 55 and older. Amenities will include weekly programming and activities, a saltwater pool, dog park, putting green, community gardens, a grilling station, yoga and aerobics room, hair and nail salon, fitness center, multi-purpose activity room and theater and game lounge. AOG Living will manage the community. CBRE arranged construction financing for the development …

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CCRCCompany NewsNewsPeopleTexas

Mirador CCRC in Texas Names Chuck Childress Executive Director

by Channing Hamilton

CORPUS CHRISTI, Texas — Mirador, a continuing care retirment community in Corpus Christi, has hired Chuck Childress as executive director to succeed Deborah Nugent, who is retiring after serving 13 years at the helm. Mirador is part of the Methodist Retirement Communities (MRC), a not-for-profit service ministry that provides seniors housing and healthcare services in Texas to about 2,000 residents. His first day on the job was Sept. 30. Childress previously worked for MRC, serving on the organization’s central support services team, initially as senior vice president of operations before …

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Sonoma House Assisted Living in Carrollton, Texas
AcquisitionsAssisted LivingMemory CareNewsTexas

ESI Brokers $9.2M Sale of Sonoma House Assisted Living in Carrollton, Texas

by Channing Hamilton

CARROLLTON, Texas — Evans Senior Investments (ESI) has arranged the $9.2 million sale of Sonoma House Assisted Living, a 96-unit community in Carrollton, located about 20 miles northwest of Dallas. The buyer was Jaybird Senior Living, an owner-operator based in Cedar Rapids, Iowa. This acquisition marks the company’s first venture into the Texas market. Sonoma House had been a family-owned and operated nonprofit community since its establishment in 2014. Known for its residential-style environment, the community consists of 33 assisted living units and 63 memory care units spread across seven …

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Firewheel Town Village in Garland, Texas
AcquisitionsActive AdultNewsTexas

JLL Brokers Sale of 154-Unit Active Adult Community in Garland, Texas

by Channing Hamilton

GARLAND, Texas — JLL Capital Markets has arranged the sale of Firewheel Town Village, a 154-unit active adult community in Garland, located about 20 miles northeast of Dallas. JLL represented the seller, Clearworth Capital, and procured the buyer, Equity Partnership Holdings. The sales price was not disclosed. Built in 2018, Firewheel Town Village consists of studio, one- and two-bedroom units. The interior finishes include granite countertops, glass tile kitchen backsplashes, stainless steel appliances and wood-inspired plank flooring. Community amenities feature a heated saltwater pool, clubhouse, TV lounge, full-service salon, billiards room, fitness center …

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The Retreat at Carrollton in Carrollton
AcquisitionsAssisted LivingNewsOperationsTexas

12 Oaks Senior Living Expands Management Portfolio with Retreat at Carrollton in Metro Dallas

by Channing Hamilton

CARROLLTON, Texas — 12 Oaks Senior Living has expanded its management portfolio with the addition of The Retreat at Carrollton, an assisted living community in Carrollton, located approximately 20 miles northwest of Dallas.  The 122-unit property opened early this year. A private equity group based in Dallas selected 12 Oaks to operate The Retreat at Carrollton. As part of this partnership, 12 Oaks will focus on optimizing operations, lease-up, enhancing resident experiences and achieving the owner’s business goals. The management team at 12 Oaks emphasizes the importance of resident-centered care, innovative …

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CCRCFinanceNewsTexas

Ziegler Arranges $72.6M Bond Financing for Trinity Terrace in Fort Worth, Texas

by Jeff Shaw

FORT WORTH, Texas — Ziegler has arranged $72.6 million in bond financing for Trinity Terrace, a continuing care retirement community (CCRC) in Fort Worth. The Tarrant County Cultural Education Facilities Finance Corp. issued the bonds. The borrower is The Cumberland Rest Inc., a nonprofit corporation incorporated in 1902 for the purpose of providing housing for aged and indigent Christian women. Trinity Terrace opened on a 3.5-acre campus in February 1983. The community currently features 316 independent living apartments, 12 assisted living apartments, 17 memory care apartments and 42 skilled nursing …

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AcquisitionsNewsSkilled NursingTexas

SLIB Negotiates Sale of Two Skilled Nursing Facilities in Central Texas

by Jeff Shaw

HONDO and KERRVILLE, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of two skilled nursing facilities in Hondo and Kerrville.  Offering 232 total skilled nursing beds, the portfolio of communities are located within 60 miles of each other in Central Texas. The portfolio is approximately 55,500 square feet in total and is situated on approximately 4.1 acres of land. The seller is an owner-operator located in Texas, while the buyer is a publicly traded REIT that is leasing the properties to a new operator in the Texas …

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