CARROLLTON, Texas — Avenida Partners and Artemis Real Estate Partners have unveiled plans for Avenida Carrollton, an active adult community in the Dallas suburb of Carrollton. The community will feature 155 market-rate apartments consisting of one- and two-bedroom floorplans, as well as 48 duplex and triplex cottages. Avenida Carrollton will be located on 10 acres, with over 35,000 square feet of interior and exterior amenities. Apartment floorplans will range from 686 square feet to 1,285 square feet; with duplex and triplex cottages ranging from 1,360 square feet to 1,490 square …
Texas
AUSTIN, Texas — JLL Capital Markets has arranged the sale of ArborView, a 151-unit active adult community in Austin. JLL represented the seller, Cadence Multi-Family, in the sale of the property to Sparrow Partners. The buyers assumed the existing HUD financing on the project. The price was not disclosed. Opened in 2021, ArborView is located in Greyrock Ridge within the Circle C Ranch master-planned community in southwest Austin. Development of Circle C Ranch began in 1982 and today the community includes over 6,400 homes. Neighborhood amenities include an 18-hole golf …
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 …
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 …
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 …
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 …
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 …
Sparrow Partners, Welltower Underway on 193-Unit Active Adult Community in Metro Dallas
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 …
Sparrow Partners, Welltower to Open 195-Unit Active Adult Community in Pflugerville, Texas
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 …
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 …