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CCRCDevelopmentFinanceNewsTexas

Ziegler Arranges $76M Bond Financing for Brazos Presbyterian Homes in Texas

by Jeff Shaw

HOUSTON — Ziegler has arranged $76 million in bond financing for Brazos Presbyterian Homes (BPH), a nonprofit owner-operator based in Houston. The tax-exempt, draw-down bonds are supported by a three-bank syndicate comprised of Amegy Bank, Hancock Whitney and Trustmark. BPH owns and operates three continuing care retirement communities in Texas: Brazos Towers at Bayou Manor, The Hallmark and Longhorn Village. The bonds will fund an expansion project at Longhorn Village, refinance bonds from 2013 and pay the costs of issuance. The expansion project will add 48 independent living apartments to …

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FinanceIndependent LivingNewsTexas

CBRE Arranges $18.2M Refinancing for Village on the Park Onion Creek in Austin, Texas

by Jeff Shaw

AUSTIN, Texas — CBRE National Senior Housing has arranged an $18.2 million refinancing for Village on the Park Onion Creek, a Class A seniors housing community in Austin. The borrower is Bridgewood Property Co. Located in the established neighborhood of Onion Creek, the 124-unit, majority independent living community sits on a nine-acre campus. The property is near Austin’s Interstate 35 growth corridor, south of downtown, providing access to retail and the surrounding area. Aron Will, Tim Root and Michael Cregan of CBRE National Senior Housing arranged the 10-year, floating rate …

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FinanceMemory CareNewsTexasWisconsin

Lument Closes Four Bridge Loans Totaling $78M for Acquisition, Refinancing of Memory Care Portfolio

by Jeff Shaw

TEXAS and WISCONSIN — Lument has closed a series of bridge loans totaling more than $78 million to acquire or refinance four memory care facilities totaling 311 beds in Texas and Wisconsin. The borrower is Silverado, a large memory care operator with communities throughout California, Kansas, Nevada, Maryland, Texas, Illinois, Virginia, Washington, and Wisconsin. Doug Harper, Chris Mauger, and Casey Moore led the transaction for Lument. The four loans were underwritten with a 36-month initial term and one-year extension, with earn-outs for each loan and variable interest rates. The deal …

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AcquisitionsNewsTexas

Blueprint Brokers $21M Sale of The Inn at Los Patios in San Antonio

by Jeff Shaw

SAN ANTONIO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Inn at Los Patios, a 166-unit independent living and assisted living community in San Antonio. Blueprint represented a court-appointed receiver to maximize proceeds for the trustee group and stakeholders involved. Though the community was 80 percent occupied and generating approximately $1 million of cashflow, Blueprint sold the upside of increasing occupancy by elevating the competitive profile and implementing minor expense efficiencies through regional operations. A New York-based private equity group acquired the property for $21 million …

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NewsOperationsPeopleTexas

Buckner Retirement Names Tim List as Executive Director of Parkway Place in Houston

by Jeff Shaw

HOUSTON — Buckner Retirement Services has hired industry veteran Tim List as the new executive director for faith-based senior living community Parkway Place in Houston. List takes over for Abraham Mathew, who moved into the position of director of operations for Buckner. List’s career in senior living began in 2012 at Longhorn Village, a life plan community in Austin. There he rose from lead chauffeur to administrator, serving in roles such as accounting specialist, employee relations supervisor, and assistant administrator along the way. List earned a bachelor’s degree in multidisciplinary …

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AcquisitionsAssisted LivingNewsTexas

Cushman & Wakefield Arranges Sale of 76-Unit Franklin Park of Round Rock in Texas

by Jeff Shaw

ROUND ROCK, Texas — Cushman & Wakefield has arranged the sale of Franklin Park of Round Rock, a 76-unit assisted living and memory care community in Round Rock, approximately 20 miles north of downtown Austin. A Cushman & Wakefield team of Richard Swartz, Jay Wagner, Jim Dooley and Jack Griffin represented the seller, Franklin Park Senior Living and its institutional capital partner, in the transaction. The buyer was Inspired Healthcare Capital, a senior housing investor with a captive operator called Volante Senior Living, which will manage the community going forward. …

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AcquisitionsNewsOperationsTexas

12 Oaks Senior Living to Operate 166-Unit The Inn at Los Patios in San Antonio

by Jeff Shaw

SAN ANTONIO — 12 Oaks Senior Living has taken over management of The Inn at Los Patios, a 166-unit independent living and assisted living community in San Antonio. 12 Oaks, along with local nonprofit San Antonio Community Development Council, intends to complete a major renovation and upgrade to the community.

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AcquisitionsActive AdultNewsTexas

Grace Management Breaks Ground on 115-Unit Active Adult Complex in Conroe, Texas

by Jeff Shaw

CONROE, Texas — Grace Management has broken ground on The Lakes at Woodhaven Village, a 115-unit active adult complex in Conroe, located about 40 miles north of Houston. The project, which is being developed on a five-acre plot adjacent to the 2,000-acre Grand Central Park master-planned community, is slated for a spring 2024 completion. Project partners include developer Padua Realty Co. and affiliated construction company Dorado Builders, Investwell Architects, Lizabeth Jones Interior Design and Jordan & Skala Engineers.

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AcquisitionsActive AdultNewsTexas

Blaze Capital Partners Acquires 150-Unit Active Adult Community in San Antonio

by Jeff Shaw

SAN ANTONIO — Blaze Capital Partners has purchased Sage Stone Oak, a 150-unit active adult community in San Antonio. Built in 2020 on a 7.5-acre site, Sage Stone Oak features a mix of one- and two-bedroom apartments ranging in size from 829 to 1,172 square feet. The property is located in the Stone Oak neighborhood, 15 miles north of downtown San Antonio. The seller and price were not disclosed. “As we look to the future of housing and continue diversifying our portfolio with property types that take advantage of long-term …

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CaliforniaFinanceNewsNorth CarolinaTexas

Cushman & Wakefield Arranges $51M Refinancing of Three-Property Kisco Portfolio

by Jeff Shaw

ESCONDIDO, Calif; SAN ANTONIO; and WINSTON-SALEM, N.C. — Cushman & Wakefield has arranged $51 million in financing for Kisco Senior Living. The loan refinances debt on three Kisco properties: Cypress Court in Escondido, Villa de San Antonio in San Antonio and Heritage Woods in Winston-Salem. The properties provide independent living and assisted living services. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Sam Dylag represented the borrower in the transaction. A national bank provided the capital.

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