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AcquisitionsAssisted LivingNewsTexas

MedCore Acquires 86-Unit Avenues of Park Forest in Farmers Branch, Texas

by Jeff Shaw

FARMERS BRANCH, Texas — MedCore Partners has acquired an 86-unit senior living community in the first-ring Dallas suburb of Farmers Branch. MedCore has renamed the property, formerly called The Avenues of Park Forest, as The Grove on Forest Lane. The community features 70 assisted living and 16 memory care units. The transaction marks MedCore’s second acquisition in Texas but the first in the Dallas market. The property is MedCore’s 19th nationwide. Renovation effort will include new interior and exterior signage, courtyard landscaping, common area upgrades and apartment amenity enhancements. Senior …

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AcquisitionsNewsTexas

SLIB Negotiates Sale of 86-Unit Avenues of Park Forest in Dallas

by Jeff Shaw

DALLAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Avenues of Park Forest, an 86-unit seniors housing community in Dallas. The community was built in 1998, totaling 65,000 square feet on approximately four acres of land. The seller was a large investment manager that hired a third-party manager for this community. The buyer is a private equity company specializing in seniors housing and medical office buildings. The price was not disclosed. The buyer plans to invest in capital improvements to push census growth. Jason Punzel and …

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AcquisitionsArizonaNewsSkilled NursingSouth CarolinaTexas

Ensign Group Buys Nine Skilled Nursing Facilities in Texas, South Carolina, Arizona Across Three Transactions

by Jeff Shaw

SAN JUAN CAPISTRANO, Calif. — The Ensign Group Inc. (NASDAQ: ENSG), an owner-operator based in San Juan Capistrano, has acquired nine skilled nursing facilities in Texas, South Carolina and Arizona across three separate transactions. In the first transaction, Ensign purchased six properties in Texas: Brodie Ranch Nursing and Rehabilitation, a 120-bed facility located in Austin; Onion Creek Nursing and Rehabilitation Center, a 125-bed facility in Austin; Riverside Nursing and Rehabilitation Center, a 122-bed facility in Austin; West Oaks Nursing and Rehabilitation Center, a 125-bed facility in Austin; Lakeside Nursing and …

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NewsPeopleTexas

Watermark Hires Annika DiNovi as Executive Director of The Hacienda at Georgetown in Texas

by Jeff Shaw

GEORGETOWN, Texas — Watermark Communities has named Annika DiNovi as executive director of The Hacienda at Georgetown in the Austin suburb of Georgetown. DiNovi joins Watermark Communities with nearly 15 years of experience in the luxury senior living housing and healthcare industries, most recently serving as regional director of operations at Transforming Age in Washington state. The Hacienda at Georgetown is opening with 231 studios, one- and two- bedroom residences for independent living, assisted living and memory care. DiNovi holds a bachelor’s degree in psychology and an master’s degree in …

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DevelopmentIndependent LivingNewsTexas

Braintree, Cadence McShane Break Ground on 163-Unit Aviva Terranova in Spring, Texas

by Jeff Shaw

SPRING, Texas — A joint venture between Braintree Properties and Cadence McShane has broken ground on Aviva Terranova Independent Senior Living Community in Spring, a suburb of Houston. Plans call for a 140,000-square-foot campus comprising four-story, wood-framed structures and 163 units. Additional features include a fitness center, pool, theater, library, Cyber Café and a parking garage with 215 parking spaces. The project is scheduled for completion in late 2023.

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AcquisitionsNewsSkilled NursingTexas

Dwyer Workforce Development Acquires 50-Property Skilled Nursing Portfolio in Texas for $590M

by Jeff Shaw

BALTIMORE — The Jack and Nancy Dwyer Workforce Development Center Inc., a Baltimore-based investor, has acquired Regency Integrated Health Services and its 50-property skilled nursing portfolio throughout Texas for $590 million. The Regency properties are home to approximately 4,600 residents. Dwyer plans to transition the portfolio from a for-profit to a nonprofit organization under the terms of the transaction. The seller is a group of multiple owners. The transition to a nonprofit was the vision of entrepreneur Jack Dwyer to end systemic poverty and address the growing workforce crisis plaguing …

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CCRCNewsOperationsTexas

The Buckingham in Houston Names Philip Jacob as Executive Director

by Jeff Shaw

HOUSTON — The Buckingham, a continuing care retirement community in Houston, has named Philip Jacob as its new executive director. Jacob joined the community as a health care administrator in 2011, and mostly recently served as interim executive director. He brings several years of experience from SavaSeniorCare’s Houston properties. Under his tenure, the community earned and continues to receive a five-star rating from the Centers for Medicare and Medicaid Services (CMS). The healthcare center continues to achieve the highest clinical outcomes in the city and received deficiency-free surveys in 2015 …

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DevelopmentFinanceNewsTexas

JLL Arranges $61M Construction Loan for The Preserve at Spring Creek in Garland, Texas

by Jeff Shaw

GARLAND, Texas — JLL has arranged a $61 million construction loan for The Preserve at Spring Creek, a 230-unit seniors housing project that will be located in the northeastern Dallas suburb of Garland. The country club-style facility will be situated on 35.5 acres and will offer assisted living, independent living and memory care services. Alanna Ellis and Allison Holland of JLL arranged the financing through a regional bank on behalf of the borrower, a joint venture between JAMP Enterprises LLC and Frontier Management LLC. The floating-rate loan carries a 15-year …

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AcquisitionsNewsTexas

JLL Brokers Sale of 75-Unit Quail Park of Granbury in Texas

by Jeff Shaw

GRANBURY, Texas — JLL Capital Markets has arranged the sale of Quail Park of Granbury, a 75-unit independent living, assisted living and memory care community in Granbury, a growing suburb of Dallas-Fort Worth. JLL represented the seller, Living Care Lifestyles, in the sale to Lloyd Jones LLC. Lloyd Jones Senior Living will operate the community going forward, under the name AVIVA Granbury. The sales price was not disclosed. The community comprises two buildings, one offering independent living (41 units) and assisted living (15 units) and one dedicated to memory care …

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DevelopmentIndependent LivingNewsTexas

Forefront Living Opens 112-Unit Independent Living Expansion at Presbyterian Village North in Dallas

by Jeff Shaw

DALLAS — Forefront Living has completed The Hawthorne, an expansion project at Presbyterian Village North in Dallas. The project added 112 units of independent living at the community’s 66-acre campus. The new building is named after Douglas D. Hawthorne, founding CEO emeritus of Texas Health Resources. Hawthorne was a guiding force behind the expansion.

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