TEXAS — Blueprint Healthcare Real Estate Advisors has negotiated the sale of four skilled nursing facilities in Texas. The properties feature a combined 340 beds. Two were built in the late 1960s and two were built in 2000. A REIT winding down its relationship with the facilities’ operator sold the facilities. Multiple undisclosed buyers acquired the properties for undisclosed prices.
Texas
DALLAS — Ziegler has arranged $77.1 million of bond financing for Presbyterian Village North, a continuing care retirement community (CCRC) in Dallas. The community sits on a 66-acre campus and currently consists of 89 buildings with 253 independent living units, 101 assisted living units, 44 memory care units and a health center operating 106 skilled nursing beds. The proceeds of the bonds will finance the cost of an expansion project that will add 112 new independent living units in a five-story building named The Hawthorne. Of the 97 units being …
CareTrust REIT Acquires Four-Property Skilled Nursing Portfolio in Metro Dallas for $47.6M
by Jeff Shaw
ROCKWALL, ROWLETT, WILLS POINT and WAXAHACHIE, Texas — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired four post-acute care facilities in the Dallas-Ft. Worth area. The REIT paid $47.6 million for the properties in an off-market transaction for $47.6 million. The portfolio consists of 554 skilled nursing beds and 24 assisted living beds, and is currently leased to operating affiliates of The Ensign Group Inc. The facilities include Beacon Harbor Healthcare & Rehabilitation in Rockwall, Rowlett Health & Rehabilitation Center in Rowlett, Crestwood Health & Rehabilitation in Wills Point and Pleasant …
DALLAS — Juliette Fowler Communities (JFC) has announced plans to construct a 144-unit independent living community, the Juliette Fowler Residences, for limited-to-moderate-wealth seniors in East Dallas. A groundbreaking for the $24 million development at the 25-acre site is planned for early 2021, with move-ins scheduled to begin in May 2022. JFC was awarded tax credit financing through The Texas Department of Housing and Community Affairs’ (TDHCA) competitive tax credit process. A 2019 study by the National Investment Center for Seniors Housing & Care (NIC) shows that 54 percent of middle-income …
DALLAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of Lakeland Hills Senior Living, a 170-unit seniors housing community in Dallas. Originally built in 1987, the community was renovated in 2013 with several additional capital investments and upgrades completed since 2016. Following a previous operator transition, the REIT owner converted over 20 percent of the assisted living units to establish Lakeland Hills as exclusively independent living. Occupancy declined immediately following the conversion, but steadily improved month-over-month as the community was repositioned as an affordable independent living provider. Blueprint …
AMARILLO, Texas — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of The Medical Lodge of Amarillo, an 82-bed skilled nursing facility in Amarillo. The property was 45 percent occupied at the time of acquisition. This property brings Ensign’s portfolio to 227 healthcare operations, 24 of which also include assisted living operations, across 13 states. Ensign owns 95 real estate assets.
Hunt, Envolve Receive $5.2M in Financing for Affordable Community Rehabilitation in Fort Worth
by Jeff Shaw
FORT WORTH, Texas — Hunt Capital Partners, in collaboration with Envolve Community Management LLC, has received $5.2 million in federal Low-Income Housing Tax Credit (LIHTC) equity financing for the acquisition and rehabilitation of Shady Oaks Manor. Located in Fort Worth, Texas, Shady Oaks Manor is an existing LIHTC development, offering 138 affordable housing units to seniors aged 62 years and older. All units benefit from a Section 8 project-based Housing Assistance Payments rental subsidy. Originally constructed in 1979, Shady Oaks Manor was rehabilitated in 2002 utilizing tax-exempt bonds and LIHTC. …
Story Senior, MPH Partners Underway on 140-Unit Luxe at Las Colinas Project in Irving, Texas
by Jeff Shaw
IRVING, Texas — A partnership between Story Senior Ltd. and MPH Partners LLC is underway on construction of The Luxe at Las Colinas, a 140-unit active adult project in Irving. The community will span approximately 149,000 square feet and offer one- and two-bedroom units ranging in size from 644 to 1,112 square feet. Moss Construction is the general contractor for the project, which is scheduled for completion in November 2021.
GEORGETOWN, Texas — MedCore Partners and The National Realty Group (TNRG) have started construction of The Hacienda at Georgetown, a 230-unit senior living community in Georgetown, a suburb of Austin. The community sits on a 13.2-acre tract situated at the south entrance to Sun City Texas, an extensive master-planned active adult community. The resort-style senior living campus will offer 125 independent living residences, 81 assisted living apartments and 24 memory care units. The $85 million project is the first part of a two-phase, $115 million campus. The second phase will …
TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of three assisted living communities in East Texas. Two of the communities were vacant at the time of sale. The other was operational and 90 percent occupied. The portfolio totals 132 units. Dallas-based owner-operator WindRiver Cos. acquired the properties. The seller and price were not disclosed.