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CCRCFinanceNewsTexas

Ziegler Arranges $72.6M Bond Financing for Trinity Terrace in Fort Worth, Texas

by Jeff Shaw

FORT WORTH, Texas — Ziegler has arranged $72.6 million in bond financing for Trinity Terrace, a continuing care retirement community (CCRC) in Fort Worth. The Tarrant County Cultural Education Facilities Finance Corp. issued the bonds. The borrower is The Cumberland Rest Inc., a nonprofit corporation incorporated in 1902 for the purpose of providing housing for aged and indigent Christian women. Trinity Terrace opened on a 3.5-acre campus in February 1983. The community currently features 316 independent living apartments, 12 assisted living apartments, 17 memory care apartments and 42 skilled nursing …

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AcquisitionsNewsSkilled NursingTexas

SLIB Negotiates Sale of Two Skilled Nursing Facilities in Central Texas

by Jeff Shaw

HONDO and KERRVILLE, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of two skilled nursing facilities in Hondo and Kerrville.  Offering 232 total skilled nursing beds, the portfolio of communities are located within 60 miles of each other in Central Texas. The portfolio is approximately 55,500 square feet in total and is situated on approximately 4.1 acres of land. The seller is an owner-operator located in Texas, while the buyer is a publicly traded REIT that is leasing the properties to a new operator in the Texas …

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AcquisitionsAssisted LivingNewsTexas

Blueprint Brokers Sale of 48-Unit Assisted Living Community in McKinney, Texas

by Jeff Shaw

MCKINNEY, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 48-unit assisted living and memory care community in McKinney, approximately 35 miles north of downtown Dallas. Originally built in 1993, prior ownership recently completed a $2.2 million renovation. At the time of marketing, the community featured strong in-place occupancy of 98 percent, as well as a recently implemented rate increase. A newly launched, privately traded REIT acquired the property for an undisclosed price. The undisclosed seller was divesting of its final seniors housing property. With this …

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NewsPeopleTexas

Lifespace Hires David Gustafson as Executive Director of Meadow Lake in Tyler, Texas

by Jeff Shaw

TYLER, Texas — Lifespace Communities has hired David Gustafson as executive director at Meadow Lake in Tyler, approximately midway between Dallas and the Louisiana border.  Gustafson previously held leadership roles at Aegis Living, Discovery Senior Living and Watermark Retirement Communities.  Gustafson earned his bachelor’s degree in business administration from the University of South Florida. He is also a Licensed Administrator for Assisted Living Facilities in Texas and a Licensed Dementia Care Practitioner.

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Assisted LivingDevelopmentNewsTexas

Thrive Senior Living Breaks Ground on 75-Unit Encore at Heritage-Glen in Fort Worth, Texas

by Jeff Shaw

FORT WORTH, Texas — Thrive Senior Living and Orison Holdings have broken ground on Encore at Heritage-Glen in the Alliance area of North Fort Worth. Arrive Architecture Group designed the project, which will feature 50 assisted living units and 25 memory care units. The groundbreaking of Encore at Heritage-Glen follows closely behind the announcement of the International at Aventura, Thrive Senior Living’s latest development in the state of Florida.

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AcquisitionsFinanceNewsSkilled NursingTexas

Oxford Finance Provides $47M Credit Facility to Creative Solutions in Healthcare Inc.

by Jeff Shaw

FORT WORTH, Texas — Oxford Finance LLC has provided a $47 million senior credit facility to Creative Solutions in Healthcare Inc., a Fort Worth-based seniors housing investor. Funds drawn at closing were used to finance the acquisition of two skilled nursing facilities in Texas, totaling 228 beds. Additionally, the credit facility includes a substantial delayed draw commitment, providing the company with the flexibility to finance future acquisitions. Creative Solutions in Healthcare is a family-owned company with more than 170 long-term care communities throughout the state of Texas.

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Company NewsNewsPeopleTexas

Buckner Retirement Services Appoints Ken Robbins as Interim President 

by Jeff Shaw

DALLAS — Buckner Retirement Services, a nonprofit operator based in Dallas, has hired Ken Robbins to serve as interim president.  Robbins will help a transition in leadership as the provider seeks a replacement for Charlie Wilson following his resignation as president. Wilson’s resignation is effective Aug. 31 after serving with Buckner for 24 years.  Over the next three weeks, Wilson will work closely with Robbins to bring him up to speed on the organization and the seven Buckner senior living communities it operates. Jeff Gentry, executive vice president and chief …

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CCRCNewsPeopleTexas

Brazos Presbyterian Homes Holding Promotes Deidre Kinsey to Chief Executive Officer

by Jeff Shaw

HOUSTON — Brazos Presbyterian Homes Holding Inc. has promoted Deidre Kinsey to CEO. A 30-year veteran of the senior living industry, Kinsey most recently served two years as the company’s chief operating officer. She will lead the Houston-based nonprofit organization’s three continuing care retirement communities: Brazos Towers at Bayou Manor and The Hallmark in Houston and Longhorn Village in Austin. In her new CEO role, Kinsey aims to unite Brazos Presbyterian Homes Holding into a cohesive, multisite organization by leveraging each senior living community’s strengths, a broader talent pool, shared …

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AcquisitionsNewsSkilled NursingTexas

SLIB Negotiates Sale of 120-Bed Skilled Nursing Facility in La Marque, Texas

by Jeff Shaw

LA MARQUE, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 120-bed skilled nursing facility in La Marque, a Gulf Coast city southeast of Houston. The community totals approximately 45,628 square feet on 4.3 acres of land. The seller is a local, Texas-based family partnership, which is selling its only seniors housing community. The buyer owns and operates several skilled nursing facilities in Texas. The price was not disclosed. Matthew Alley of SLIB handled the transaction.

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AcquisitionsActive AdultNewsTexas

Green Courte Partners Acquires Chesapeake Bay Active Adult Community in Seabrook, Texas

by Jeff Shaw

SEABROOK, Texas — Green Courte Partners LLC, a private equity real estate investment firm, has acquired Chesapeake Bay, an active adult community with 348 apartments and cottages in Seabrook, just south of Houston. The acquisition was made through the buyer’s fifth investment fund, Green Courte Real Estate Partners V. The seller and price were not disclosed. The acquisition increases Green Courte’s national senior living portfolio to 19 communities containing approximately 3,100 units. The firm’s wholly owned operating platform, True Connection Communities, manages the properties. “The Houston market has demonstrated robust …

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