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AcquisitionsActive AdultNewsTexas

Livingston Street Capital Acquires 183-Unit Atlas Point at Prestonwood in Carrollton, Texas

by Jeff Shaw

CARROLLTON, Texas — An affiliate of Livingston Street Capital, a private equity firm, has acquired Atlas Point at Prestonwood, a 183-unit active adult community in Carrollton, located in the Dallas-Fort Worth Metroplex This asset brings Livingston’s overall investment in the Dallas-Fort Worth active adult market to $150 million within six months, according to Peter Scola, founder, president and co-CEO of the company. “The Dallas Fort-Worth area appeals across demographics, as it offers an abundance of outdoor amenities, retail destinations, metropolitan conveniences and a great climate,” says Scola. “The population for …

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Assisted LivingDevelopmentNewsTexas

Cadence McShane Breaks Ground on Anthology of Highland Park in Dallas

by Jeff Shaw

DALLAS — Cadence McShane Construction Co. has started construction of Anthology of Highland Park, located in the Highland Park neighborhood of Dallas. Anthology Senior Living is developing the 11-story assisted living community, which will feature 121 units. PRDG is the designer. The 130,000-square-foot development will incorporate 24 memory care units occupying the second floor, and 97 assisted living units on the remaining floors. The assisted living units will include eight studios, 53 one-bedroom and 36 two-bedroom/two-bath configurations. Construction will also include below-grade parking and ground-level parking, providing 58 spaces for …

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AcquisitionsNewsSkilled NursingTexas

SLIB Negotiates $7.8M Sale of Three-Property Skilled Nursing Portfolio in Texas

by Jeff Shaw

HENRIETTA, OLNEY and NOCONA, Texas — Senior Living Investment Brokerage has arranged the sale of three skilled nursing facilities located in Henrietta, Olney and Nocona. The portfolio totals 250 beds. The assets total 14,500 square feet on 0.77 acres, 20,000 square feet on 2.07 acres and 23,000 square feet on 3.03 acres, respectively. The properties are within approximately 90 miles of each other and located northwest of Dallas near the Oklahoma border. An independent owner-operator exiting the industry sold the facilities for $7.8 million. The buyer was an out-of-state owner-operator …

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AcquisitionsIdahoIndianaNewsOperationsTexas

Sabra Health Care REIT Inc. Completes Sale-Leaseback with Legacy Living, Transitions Three Other Communities to Ensign Group

by Jeff Shaw

IRVINE, Calif. — Sabra Health Care REIT (NASDAQ: SBRA) has completed the $23.6 million acquisition of a 113-unit seniors housing property in Jasper, Indiana. The deal is a sale-leaseback transaction with the seller and operator, Legacy Living. The asset opened in 2019 and features 18 independent living cottages, 70 assisted living units and 25 memory care units. The lease has an initial term of 15 years with two five-year extension options. In a simultaneous, but unrelated, transaction, Sabra also transitioned three of its skilled nursing facilities to a new operator. …

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Affordable HousingDevelopmentNewsTexas

Lument Provides $47.1M in Financing for The Oaks Mixed-Income Community in Dallas

by Jeff Shaw

DALLAS — Lument has provided $25 million in short-term bonds and a $22.1 million Freddie Mac unfunded forward loan for The Oaks, a mixed-income seniors housing development in Dallas The borrowers are co-developers DHA Housing Solutions for North Texas and the Volunteers of America National Services (VOANS). Tracy Peters, senior managing director, and Dale Giffey, associate director, led the transaction for Lument. The Oaks is being co-developed by DHA and VOANS, the latter of which is also the sponsor and guarantor. DHA is the tenth largest housing authority in the …

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Assisted LivingDevelopmentNewsTexas

Cadence McShane Begins Construction on Anthology of Austin

by Jeff Shaw

AUSTIN, Texas — Cadence McShane Construction Co. has broken ground on the 128,000-square-foot Anthology of Austin, an assisted living and memory care facility in Austin. Anthology Senior Living is the developer. Designed by OZ Architecture, the five-story building will feature 130 units in studio, one-bedroom and two-bedroom configurations. The 2.2-acre site will boast two large courtyards and is across the street from The Domain, a large, outdoor shopping center. This will be the Cadence McShane’s third assisted living/memory care development with Anthology Senior Living. The project is slated for completion …

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AcquisitionsIdahoNewsOperationsSkilled NursingTexas

The Ensign Group Acquires Operations of Three Skilled Nursing Facilities in Texas, Idaho

by Jeff Shaw

BOISE, Idaho, and TRINITY and DE SOTO, Texas — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of two skilled nursing facilities in Texas and one in Idaho. The portfolio includes: River Pointe of Trinity Healthcare and Rehabilitation Center, a 98-bed skilled nursing facility located in Trinity; Park Village Healthcare and Rehabilitation, a 150-bed skilled nursing facility in De Soto; Skyline Transitional Care Center, an 80-bed skilled nursing facility located in Boise. The acquisitions are subject to a long-term, triple-net lease. This acquisitions bring Ensign’s portfolio to 245 …

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DevelopmentNewsTexas

Ryan Cos., Grand Living Management Start Construction of Grand Living at Tuscan Lakes in League City, Texas

by Jeff Shaw

LEAGUE CITY, Texas — Ryan Cos., Grand Living Management and Bow River Capital have formed a joint venture for construction of Grand Living at Tuscan Lakes in League City. The 186-unit, luxury senior living community will be part of Tuscan Lakes, a Johnson Development master-planned community located in the southeast area of greater Houston. The 75 and older demographic is expected to grow 26.6%, more than triple the total population growth in the area between 2019 and 2024, according to Moore Diversified Services. “Grand Living at Tuscan Lakes will be …

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NewsPeopleTexas

Koelsch Communities Promotes Two to Executive Director Positions in Texas

by Jeff Shaw

FORT WORTH and ARLINGTON, Texas — Koelsch Communities has promoted Quentin Zambeck to executive director at Riverside Inn in Fort Worth. Zambeck transferred from sister community Meadowbrook Memory Care in Arlington, where he served as the executive director. Zambeck will oversee daily operations of Riverside Inn. Replacing Zambeck as executive director at Meadowbrook Memory Care team is Jamie Althaus. He brings more than 12 years of community management experience and has been with the Meadowbrook community since the first of the year as the physical plant director.

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Affordable HousingDevelopmentNewsTexas

Cadence McShane to Renovate Historic Granada Homes Apartments in San Antonio

by Jeff Shaw

SAN ANTONIO — Cadence McShane Construction Co. has started renovations on the 12-story Granada Homes Senior Living Apartments, an age-restricted, low-income seniors housing property located on the River Walk in San Antonio. The project will involve a complete revitalization of the 249-unit building, originally built in 1928. Renovations will include a restoration of levels one and 15 per historic guidelines to include updated unit amenities such as countertops and appliances, 16 new apartment units, and community leasing and amenity space. Exterior improvements will also be made to the ground floor …

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