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AcquisitionsNewsSkilled NursingTexas

Blueprint Negotiates $52M Sale of Four-Property Portfolio in Texas

by Jeff Shaw

DALLAS, AUSTIN, SAN ANTONIO and HOUSTON, Texas — Blueprint Healthcare Real Estate Advisors has brokered the sale of four seniors housing communities in the Texas markets of Dallas, Austin, San Antonio and Houston. The price was $52 million, or $153,000 per bed. The buyer and seller were not disclosed. The portfolio totals 315 skilled nursing beds and 24 assisted living beds. All facilities were constructed between 2017 and 2018, average a five-Star CMS rating and feature resort-style amenities with therapy and rehabilitation gyms. The portfolio was not stabilized, and while …

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AcquisitionsMemory CareNewsTexas

Plains Commercial Arranges Sale of Richmond Meadows Memory Care in Texarkana, Texas

by Jeff Shaw

TEXARKANA, Texas — Plains Commercial has arranged the sale of Richmond Meadows Memory Care in Texarkana. Originally built in 2010, Richmond Meadows is licensed for 40 beds covering across a 24,600-square-foot community. With a Class A physical plant, the facility offers strong upside through management changes and further lease-up. After an extensive marketing campaign, the seller chose a regional assisted living and memory care operator as the buyer. With the sale of the facility, the seller exited the memory care business. Daniel Morris with Plains Commercial handled the transaction. The …

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AcquisitionsMemory CareNewsTexas

Cushman & Wakefield Negotiates Sale of Four Memory Care Communities in Metro Houston

by Jeff Shaw

HOUSTON — Cushman & Wakefield’s National Senior Housing Capital Markets team has arranged the sale of a 152-unit portfolio containing four standalone memory care communities in the Houston metro area. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Jim Dooley and Chris Remeika represented the seller, Healthcare Trust Inc., in the transaction. McFarlin Group, a Dallas-based private equity firm, acquired the portfolio in an all-cash deal. The price was not disclosed. The portfolio comprises Addington Place of The Woodlands, Addington Place of Cy-Fair, Addington Place of Meyerland and Addington …

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AcquisitionsNewsSkilled NursingTexas

ESI Arranges Sale of Pasadena Care Center Nursing Home in Texas for $6.5M

by Jeff Shaw

PASADENA, Texas — Evans Senior Investments (ESI) has arranged the sale of Pasadena Care Center, a 116-bed skilled nursing community located in Pasadena. An independent owner sold the asset to a national owner-operator looking to expand in Texas for $6.5 million, or $56,000 per bed. The operator is Sava Senior Care. Built in 1975, Pasadena Care Center is located 15 miles southeast of Houston. At the time of merketing, the community was 80 percent occupied and was producing approximately $750,000 in net operating income annually. While under contract, occupancy and …

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AcquisitionsNewsSkilled NursingTexas

LTC Acquires Four-Property Rehab Portfolio in Texas for $52M

by Jeff Shaw

FORT WORTH, ROUND ROCK, SAN ANTONIO and WEBSTER, Texas — LTC Properties Inc. (NYSE:LTC), a real estate investment trust that primarily invests in seniors housing and healthcare properties, has acquired four LuxeRehab centers for approximately $52 million. The properties, which are located in Texas and have a combined total of 339 beds primarily in private rooms, will be operated by Ignite Medical Resorts, a current LTC operating partner. Although the specific properties were not named, the only four Ignite locations in Texas are in Fort Worth, Round Rock, San Antonio …

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Active AdultDevelopmentNewsTexas

Sparrow Partners, Welltower Underway on 193-Unit Active Adult Community in Metro Dallas

by Jeff Shaw

SACHSE, Texas — Austin-based developer Sparrow Partners and Ohio-based REIT Welltower (NYSE: WELL) are underway on construction of Amberlin at The Station, a 193-unit active adult community located on the northeastern outskirts of Dallas. The property, which is part of The Station, a $500 million mixed-use development by Dallas-based PMB Capital Investments, will feature one- and two-bedroom units for renters aged 55 and above. Residences will range in size from 615 to 1,285 square feet. Amenities will include a pool, fitness center, game room, media lounge, community kitchen and coffee …

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Active AdultDevelopmentNewsTexas

Sparrow Partners, Welltower to Open 195-Unit Active Adult Community in Pflugerville, Texas

by Jeff Shaw

PFLUGERVILLE, Texas — Sparrow Partners and Welltower Inc. (NYSE: WELL) are nearing completion of Amberlin Pflugerville, an active adult community in the Austin suburb of Pflugerville. The developers claim the 195-unit property will be the first active adult community in Pflugerville. The community is under construction and scheduled to open this fall. The Hill Country Bible Church Pflugerville previously owned the property, having bought 52 acres from the Swenson family in 2004 and built a church on the west side of the site the following year. The church sold Sparrow …

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FinanceNewsTexas

CBRE Arranges $54.4M Refinancing for The Village at Woodlands Waterway in Texas

by Jeff Shaw

THE WOODLANDS, Texas — CBRE National Senior Housing has arranged a $54.4 million refinancing of The Village at Woodlands Waterway in The Woodlands, a suburb of Houston. The borrowers are the Saudi Economic and Development Co. (SEDCO) and Madison Marquette. Situated on a 2.7-acre site, the community was built in 2011 and consists of 116 independent living units, 63 assisted living units and 28 memory care units for a total of 207 units. The property is in the heart of The Woodlands Town Center along The Waterway, which connects to …

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AcquisitionsActive AdultNewsTexas

JLL Capital Markets Brokers Sale of Northstar Georgetown Active Adult Community in Texas

by Jeff Shaw

GEORGETOWN, Texas — JLL Capital Markets has arranged the sale of Northstar Georgetown, a 210-unit, upscale, low-rise active adult community in Georgetown, a suburb of Austin. JLL marketed the property on behalf of the seller, Chalk Hill Ventures. A joint venture between Bain Capital Real Estate and Capitol Seniors Housing acquired the property. The price was not disclosed. Completed in 2021, Northstar Georgetown is an age-restricted (55+) community comprising one- and two-bedroom units averaging 1,016 square feet. The number of units was not released. Located on 11.5 acres the community …

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AcquisitionsInvestmentMemory CareNewsOklahomaTexas

1031 Crowdfunding Acquires Memory Care Portfolio as Opportunity Fund Reaches Full Subscription

by Jeff Shaw

IRVINE, Calif. — 1031 Crowdfunding, an Irvine-based real estate investing platform, has fully subscribed its $16.9 million 1031CF Portfolio 1 DST. This is the company’s sixth investment in senior living care facilities. The fund was used to acquire two memory care communities. Iris Senior Living is the operator of both properties, which are located in the Dallas-Fort Worth and Oklahoma City metro areas. The facilities include a combined 88 beds and 76 units, and are currently 91 percent occupied. 1031 Crowdfunding’s affiliate, 1031 CF Properties LLC, created the investments to …

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