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Affordable HousingDevelopmentFinanceNewsTexas

Hunt Capital Partners Arranges $13.2M Financing for Oak Lofts Crossing Affordable Community in Stafford, Texas

by Jeff Shaw

STAFFORD, Texas — Hunt Capital Partners has arranged $13.2 million in Low-Income Housing Tax Credit financing for the construction of Oak Lofts Crossing for Seniors, a 60-unit affordable seniors housing community in the Houston suburb of Stafford. Oaklake Community Housing Development Corp. (OCHDC) is the borrower. Comprised of a four-story, elevator-serviced, mid-rise building, the development will offer a mix of one- and two-bedroom affordable homes for those who earn up to 30 percent, 50 percent and 60 percent of the area median income (AMI). Oak Lofts Crossing provides a much-needed …

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AcquisitionsNewsSkilled NursingTexas

SLIB Brokers Sale of 112-Bed Treemont Health Care Center in Houston

by Jeff Shaw

HOUSTON — Senior Living Investment Brokerage (SLIB) has arranged the sale of Treemont Health Care Center, a 112-bed assisted living and skilled nursing community in Houston. Built in 1974, the 39,058-square-foot community sits on approximately 1.3 acres. The bed mix is 42 assisted living and 70 skilled nursing. A regional owner-operator sought to exit the property due to the post-pandemic operating difficulties. The buyer was a local owner-operator looking to expand in Houston. The buyer assumed a HUD loan associated with the property. The price was not disclosed Vince Viverito, …

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AcquisitionsNewsSkilled NursingTexas

SLIB Arranges Sale of 108-Bed Haven Care in Longview, Texas

by Jeff Shaw

LONGVIEW, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Haven Care, a 108-bed skilled nursing facility in the East Texas city of Longview. The property totals 24,653 square feet on three acres of land. The seller was a Texas-based partnership looking to divest of its only seniors housing community. The buyer was an owner-operator with several other facilities in the state, including in the Longview market. The price was not disclosed. Matthew Alley of SLIB handled the transaction.

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AcquisitionsAssisted LivingNewsTexas

Berkadia Brokers Sale of 112-Unit The Blake at New Braunfels in Texas

by Jeff Shaw

NEW BRAUNFELS, Texas — Berkadia has arranged the sale of The Blake at New Braunfels, a resort-style, 112-unit assisted living and memory care community in New Braunfels, a suburb of San Antonio.  Berkadia Seniors Housing & Healthcare, led by Cody Tremper, Mike Garbers, Dave Fasano and Ross Sanders, closed the transaction on behalf of Biloxi, Mississippi-based LifeCare Properties, a wholly owned subsidiary of Comvest Properties.  Scottsdale, Arizona-based Inspired Healthcare Capital was the buyer. The price was not disclosed. The Blake at New Braunfels is a new vintage, Class A community …

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AcquisitionsDevelopmentNewsTexas

Sherman & Roylance Brokers Sale of Eight-Acre Development Site in Austin, Texas

by Jeff Shaw

AUSTIN, Texas — Sherman & Roylance has brokered the sale of an eight-acre development site in Austin. The property, previously approved by the City of Austin for a two-story, 98-unit assisted living and memory care facility, faced construction delays and ultimately ended up in foreclosure by Woodforest Bank in September 2023. The “as designed” construction halted in 2022. Woodforest Bank sold the partially completed project to Novak Brothers, which may convert the project into a general multifamily development. “This was a challenging assignment, given the unfinished state of the property …

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AcquisitionsAlabamaFloridaNebraskaNewsOklahomaOperationsTexas

Sagora Senior Living Takes Over Operations at 17 Communities

by Jeff Shaw

FORT WORTH, Texas — Sagora Senior Living, a Fort Worth-based operator, has taken over management of 17 senior living communities across Alabama, Florida, Nebraska, Oklahoma and Texas.  Sagora expands its footprint in Vero Beach, Florida with the addition of two new communities: Heron Cove Assisted Living and Memory Care and Heron Point Independent Living. Both communities are located less than 10 miles from The Brennity of Vero Beach, another Sagora community. Sagora also recently opened Lynridge of Huntsville Assisted Living and Memory Care, expanding the operator’s Lynridge brand to a …

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AcquisitionsAssisted LivingNewsTexas

JLL Brokers Sale of 90-Unit Sage Spring Senior Living in San Marcos, Texas

by Jeff Shaw

SAN MARCOS, Texas — JLL Capital Markets has arranged the sale of Sage Spring Senior Living, a community in San Marcos, located between Austin and San Antonio. JLL represented the seller, a joint venture between Bow River Capital and Investcor, and procured the buyer, Inspired Healthcare Capital. The price was not disclosed. Sage Spring Senior Living is a 90-unit assisted living and memory care community that opened in December 2020 and was stabilized at time of sale. San Marcos is one of the fastest growing cities in the nation with …

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Active AdultDevelopmentNewsTexas

Grace Management Opens The Lakes at Woodhaven Village Active Adult Community in Conroe, Texas

by Jeff Shaw

CONROE, Texas — Grace Management Inc., a subsidiary of CPF Living Communities, has opened The Lakes at Woodhaven Village, an active adult community in the Houston suburb of Conroe. This is Grace’s first active adult community, as the company traditionally focused on seniors housing. The 130,000-square-foot community is situated on approximately five acres and totals 115 units. Padua Realty Co. is developer on the project, and its affiliated construction company Dorado Builders was the general contractor. Other project partners include Investwell Architects, Lizabeth Jones Interior Design, and Jordan and Skala …

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AcquisitionsNewsTexas

Blueprint Negotiates Sale of 269-Unit Franklin Park TPC Parkway in San Antonio

by Jeff Shaw

SAN ANTONIO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Franklin Park TPC Parkway, a 269-unit seniors housing community in San Antonio. The Class A community was constructed in two phases from 2011 to 2017. It offers independent living, assisted living and memory care services. Following the completion of the six-year freeway expansion that affected leasing, access to the community had dramatically improved at the time of marketing, according to Blueprint. The refreshed curb appeal provided an opportunity for an incoming investor to capitalize on existing move-in …

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AcquisitionsAssisted LivingNewsTexas

CBRE Negotiates Sale of Four-Property Portfolio in Metro Dallas

by Jeff Shaw

DALLAS — CBRE has negotiated the sale of four senior housing communities in the Dallas MSA.  The portfolio — rebranded as Village on the Park Plano, Village on the Park Denton, Village on the Park Stonebridge Ranch, and Village on the Park McKinney — comprises 366 units of assisted living and memory. The properties were all built between 2014 and 2017.  The buyer is a joint venture between Artemis Real Estate Partners and Bridgewood Property Company. The Aspenwood Company, Bridgewood’s affiliate property manager, is operating the communities. The seller and …

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