Texas

CARROLLTON, Texas, and OKLAHOMA CITY ­— Surpass Senior Living has taken over management of The Gardens at Quail Springs in Oklahoma City and Carrollton Gardens in Carrollton.  Surpass Senior Living is a subsidiary company of McFarlin Group LLC, a Dallas-based private equity firm focused on the senior living industry and the owner of the communities.  Further details were not disclosed.

0 FacebookTwitterLinkedinEmail

PFLUGERVILLE, Texas — Thorofare Capital has provided a bridge loan to Wilson Capital to refinance an existing construction loan on The Jovie at Pflugerville.  The newly completed, 182-unit, Class A active adult multifamily community opened in mid-2023 and is situated roughly 20 miles north of Austin. The loan amount was not disclosed. Thorofare’s director of originations, Jonathan Hart, originated the loan with colleagues Eddie Prosser, head of credit, and Henry Johnson, senior associate leading the underwriting. Wilson Capital was represented by B.K. Newsom, vice president of capital markets at CBRE …

0 FacebookTwitterLinkedinEmail

HOUSTON — Clearwater Living has acquired The Watermark at Houston Heights, a 220-unit, Class A seniors housing community in Houston. The buyer has rebranded the community as Clearwater at The Heights. The seven-story property consists of 201 independent or assisted living residences and 19 memory care apartments. Floorplans include private studios and one- and two-bedroom layouts.

0 FacebookTwitterLinkedinEmail

KATY, Texas — LTC Properties Inc. (NYSE: LTC) has provided a $12.7 million senior loan to Ignite Medical Resorts for the acquisition of a skilled nursing and assisted living campus in Katy, a suburb west of Houston. The investment will be an unconsolidated joint venture between LTC and Ignite. The five-year loan features full-term interest-only payments at a current rate of 9.15 percent. It includes a capital expenditures investment of approximately $800,000 for campus improvements. LTC expects this investment to generate approximately $884,000 of revenue in 2024. The campus was …

0 FacebookTwitterLinkedinEmail

DALLAS — Buckner Retirement Services has hired John Falldine as senior executive director for Ventana by Buckner, a high-rise seniors housing community in Dallas. Falldine will oversee community operations, regulatory compliance, and resident and associate relations. He most recently served as executive director of Edgemere, another senior living community in Dallas. Falldine previously held leadership roles with Greystone Communities LLC and served as a senior living operations and marketing consultant for several senior living communities across the country. He has a bachelor’s degree from Oklahoma State University and an MBA …

0 FacebookTwitterLinkedinEmail

BRYAN and CALDWELL, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and skilled nursing facility in Bryan, as well as a skilled nursing facility in Caldwell. The cities are located east of Austin and northwest of Houston. Offering 237 beds, the communities total approximately 137,265 square feet. The seller is a nonprofit Catholic hospital system, which was selling its only skilled nursing/seniors housing communities. The buyer owns several skilled nursing facilities in Texas and is leasing the operations of these buildings to a …

0 FacebookTwitterLinkedinEmail

DALLAS — The Aspenwood Company, a Dallas-based operator, has taken over operations of four retirement communities in North Texas. Aspenwood manages 20 luxury communities, mostly across the southern United States, primarily operating under The Village and The Village on the Park brands. The four new Aspenwood communities, operating under The Village on the Park brand, are located within the North Texas communities of Plano, Denton and McKinney. Together, they feature a total of 366 units. They include:

0 FacebookTwitterLinkedinEmail

DALLAS — Edgemere, a continuing care retirement community in North Dallas, has promoted Teresa Bates to executive director.  Bates brings more than 25 years of senior living experience to the community. She started with Edgemere in 2002 and assisted with the opening of its health center. She held several positions within the community for 17 years before returning in 2022 as the associate executive director. As executive director at Edgemere, Bates oversees the daily operations of the community across all departments and team members.

0 FacebookTwitterLinkedinEmail

PLANO, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 65-unit assisted living and memory care community in Plano, north of Dallas. The community was originally built in the 1990s. A national developer/investor engaged Blueprint to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. The communities were purchased in a sizable portfolio transaction pre-COVID under a value-add plan to implement operator transitions to create regional groupings coupled with renovations and repositioning. Unfortunately, the cumulative impact of …

0 FacebookTwitterLinkedinEmail
Newer Posts