TYLER, Texas — The Ensign Group, Inc. (NASDAQ: ENSG) has acquired the real estate and operations of The Waterton Healthcare and Rehabilitation, a 74-bed skilled nursing facility in Tyler. In a separate transaction on the same day, Ensign announced that its affiliates acquired the operations of Amarsi Assisted Living, a 103-bed assisted living facility in Glendale, Arizona, and Citadel Assisted Living Facility, a 180-unit independent living and 150-bed assisted living facility in Mesa, Arizona. Both of these operations are part of a healthcare campus that includes skilled nursing services operated …
GRAND PRAIRIE, Texas — New York City-based Dwight Capital has provided a $30.5 million bridge loan for the refinancing of The Retreat at Grand Prairie, a 154-unit seniors housing property in Grand Prairie, located roughly midway between Dallas and Fort Worth. The four-story building sits on 7.7 acres and offers amenities such as a pool, fitness center, business center, game room, pet park and a putting green. Josh Sasouness of Dwight Capital originated the loan. The borrower was not disclosed.
HOUSTON — The Montrose Center has completed construction of the Law Harrington Senior Living Center, an age- and income-restricted housing community in Houston’s Third Ward. Designed by Smith & Co. Architects, this affordable, LGBTQ-affirming senior living center features 112 one- and two-bedroom independent living apartments. Development took seven years and cost $22 million. The property totals 162,000 square feet. Units are reserved for those over 62 years of age making up to 60 percent of the area median income. A 17,196-square-foot clubhouse features a social services department managed by the …
ENNIS, Texas — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired Ennis Care Center in the Dallas-Fort Worth Metroplex city of Ennis. The price was not disclosed. The 155-bed skilled nursing facility will be added to CareTrust’s existing master lease with affiliates of Eduro Healthcare, which took over operations on Feb. 1. The acquisition of the Ennis Facility increases CareTrust’s relationship with Eduro to nine facilities and increases annual rent under the Eduro master lease by $815,000. The initial term of Eduro’s master lease with CareTrust was also extended by four …
LUBBOCK, Texas — LifeCare Properties and New Orleans-based investment group ERG Enterprises have unveiled plans for The Blake at Lubbock, a seniors housing community in Lubbock. The 100,000-square-foot community is scheduled to open in 2023. Blake Management Group will operate the property upon completion. The development cost and number of units were not disclosed. LifeCare Properties is the developer of the assisted living and memory care community. Known as “Hub City,” the city of Lubbock is recognized as being the economic, educational and healthcare hub of a multi-county region, according …
DALLAS — The United Group of Cos. will take on property management duties at five luxury senior communities in Texas, Georgia and Indiana. The arrangement represents the latest in the organization’s expansion in this growing niche and represents the latest additions in what has been a period of growth for United Plus Property Management (UPPM), United Group’s management arm. The new deals center around three newly acquired Texas senior communities: NorthStar Georgetown, The Orchards Market Plaza and The Orchards Arlington Highlands. The organization will also manage day-to-day operations at two …
SAGINAW, Texas — Journey Capital and SilverPoint Senior Living have opened Phase I and broken ground on Phase II at Edition of Saginaw, a 6.2-acre senior living campus in Saginaw. Located in the Dallas-Fort Worth Metroxplex, Phase I includes 22 one- and two-bedroom independent living cottages. Phase II will add 74 assisted living and memory care apartments. The 57,000-square-foot expansion is slated to open fall of 2023. This will mark the fourth collaboration and partnership between SilverPoint and Journey Capital.
OKLAHOMA and TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two Class A memory care communities. The properties were built in the Oklahoma City and Dallas metro areas, delivering in 2016 and 2018. The portfolio totals 76 units. Both assets leased-up rapidly and demonstrated consistent upward trending operational performance throughout the COVID-19 pandemic, with occupancies exceeding 95 percent while generating $5.9 million in total revenue and $1.9 million in EBITDAR representing a 32.5 percent operating margin. The developer/operator sold the properties to a new partner in …
WHARTON, EL CAMPO, SCHULENBURG and YOAKUM, TEXAS — Senior Living Investment Brokerage (SLIB) has negotiated the sale of four skilled nursing facilities in South Texas. The properties total 466 beds across 112,000 square feet on 11.5 acres. Located in Wharton, El Campo, Schulenburg and Yoakum — between San Antonio and Houston — all four facilities are within 70 miles of each other. A regional owner-operator looking to consolidate its portfolio sold the properties for $39 million. The buyer is a Chicago-based owner-operator looking to expand in Texas. Matthew Alley of …
BELTON, Texas — Senior Living Investment Brokerage (SLIB) has negotiated the sale of a 114-bed skilled nursing facility in Belton, approximately midway between Auston and Waco. The facility totals approximately 31,700 square feet on approximately three acres of land. Although the price was not disclosed, SLIB notes the price equates to “somewhere in the low to mid-$80,000 range per bed.” The seller is an independent, local owner-operator looking to retire from the skilled nursing business, while the buyer is also a local owner-operator. Matthew Alley of SLIB handled the transaction. …