GALVESTON and PORT ARTHUR, Texas —Senior Living Investment Brokerage (SLIB) has arranged the sale of two skilled nursing facilities in Port Arthur and one in Galveston totaling 493 beds. The seller was a regional owner-operator looking to consolidate its portfolio. The buyer is a regional owner-operator based in Utah that is expanding its portfolio into Texas. The price was not disclosed. The buyer is planning to invest in improving the property appearance and focusing on leveraging operational experience for stabilizing the portfolio. Matthew Alley and Vince Viverito of SLIB handled …
GEORGETOWN, Texas — Austin-based developer Sparrow Partners and Ohio-based REIT Welltower (NYSE: WELL) have broken ground on Amberlin Georgetown, a 188-unit active adult community in Georgetown, a northern suburb of Austin. The property will feature one- and two-bedroom units ranging in size from 615 to 1,285 square feet and equipped with private terraces or fenced-in backyards. Amenities will include bocce and pickleball courts, a resort-style pool and sundeck, a fenced-in dog park, fitness center, game lounge, media lounge, community garden, library and a coffee bar. Each unit will rent for …
DALLAS — Buckner Retirement Services has promoted Danica McGuire to executive director of Ventana by Buckner, a high-rise continuing care retirement community in Dallas. McGuire previously served as the community’s associate executive director. Ventana’s previous executive director, Chuck Childress, is now the director of operations for Buckner Retirement Services, the faith-based, nonprofit senior living provider that operates Ventana. McGuire began her career in aging services as a social work intern. She then worked in various leadership roles including assisted living director, activity director, marketing director and assistant administrator. In 2010, …
HOUSTON — Watermark Retirement Communities and Hines have unveiled plans for The Watermark at Houston Heights, a 222-unit independent living, assisted living and memory care community in Houston’s Greater Heights neighborhood. The seven-story property will be the tallest building in the neighborhood, with views of the downtown skyline. Two of the floors will be fully dedicated to amenity space. The Watermark at Houston Heights is the fifth addition to Watermark’s upscale Élan Collection communities. The development is scheduled for completion in January 2022. Project partners include Munoz + Albin Architecture …
HOUSTON — JLL Capital Markets has arranged the sale of The Shores at Clear Lake, a 100-unit senior living community in Houston. JLL worked on behalf of the seller, Meridian Realty Advisors, to complete the sale to the buyer, Chicago Pacific Founders. JLL also represented the buyer to secure a $21.3 million, 10-year, floating-rate loan through Freddie Mac as part of the transaction. JLL Real Estate Capital will service that loan. Sitting on almost eight acres and totaling nearly 90,000 square feet, The Shores at Clear Lake offers 66 assisted …
FORT WORTH, Texas — KWA Construction has completed Phase II of Columbia Renaissance Square in Fort Worth. Columbia Residential developed the 120-unit affordable senior living community for persons age 62 and above. Designed with improved energy efficiency, indoor air quality and lower utility costs, the residences are built to achieve certification by National Green Building Standard. JHP Architecture designed the three-story, 95,015-square-foot building. Purpose Built Communities, a nonprofit consulting firm, was also a partner on the project.
GRANBURY, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Residence at Legacy Park, an active adult community in Granbury, approximately 35 miles southwest of Fort Worth. Built in 2018, the community features 81 units and is restricted to residents age 55 or older. A local owner-operator looking to exit the industry sold the asset to a national group headquartered in Utah for $18 million. Matthew Alley and Bradley Clousing of SLIB handled the transaction.
HOUSTON — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., has acquired The Shores at Clear Lake, a 100-unit senior living community in Houston. Grace Management will take over the operations of the property, which is located on seven acres near Clear Lake and the NASA Johnson Space Center. The community offers assisted living and memory care services. The price and seller were not disclosed.
DALLAS — Lone Star Funds, a Dallas-based private equity firm, has acquired a 10-property portfolio of properties operated by Discovery Senior Living in Florida, Texas and Georgia. Healthpeak (NYSE: PEAK) sold the assets for $334 million. Although the REIT disclosed the sale during its first-quarter results last week, further details, including the buyer, weren’t disclosed at that time. Healthpeak is selling the bulk of its seniors housing portfolio in a move to exit the industry in favor of life sciences and medical office real estate. Discovery Senior Living retained management …
TERRELL, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Windsor Rehabilitation & Health Care Center, a skilled nursing facility in Terrell, approximately 30 miles east of Dallas. The 108-bed facility was built in 1994. The 41,140-square-foot building sits on 5.2 acres. The seller was a regional company with this being its only community in Texas. The buyer was a national owner-operator with a large portfolio in the state. The price was not disclosed.