HOUSTON — Clearwater Living has acquired The Watermark at Houston Heights, a 220-unit, Class A seniors housing community in Houston. The buyer has rebranded the community as Clearwater at The Heights. The seven-story property consists of 201 independent or assisted living residences and 19 memory care apartments. Floorplans include private studios and one- and two-bedroom layouts.
KATY, Texas — LTC Properties Inc. (NYSE: LTC) has provided a $12.7 million senior loan to Ignite Medical Resorts for the acquisition of a skilled nursing and assisted living campus in Katy, a suburb west of Houston. The investment will be an unconsolidated joint venture between LTC and Ignite. The five-year loan features full-term interest-only payments at a current rate of 9.15 percent. It includes a capital expenditures investment of approximately $800,000 for campus improvements. LTC expects this investment to generate approximately $884,000 of revenue in 2024. The campus was …
DALLAS — Buckner Retirement Services has hired John Falldine as senior executive director for Ventana by Buckner, a high-rise seniors housing community in Dallas. Falldine will oversee community operations, regulatory compliance, and resident and associate relations. He most recently served as executive director of Edgemere, another senior living community in Dallas. Falldine previously held leadership roles with Greystone Communities LLC and served as a senior living operations and marketing consultant for several senior living communities across the country. He has a bachelor’s degree from Oklahoma State University and an MBA …
BRYAN and CALDWELL, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and skilled nursing facility in Bryan, as well as a skilled nursing facility in Caldwell. The cities are located east of Austin and northwest of Houston. Offering 237 beds, the communities total approximately 137,265 square feet. The seller is a nonprofit Catholic hospital system, which was selling its only skilled nursing/seniors housing communities. The buyer owns several skilled nursing facilities in Texas and is leasing the operations of these buildings to a …
DALLAS — The Aspenwood Company, a Dallas-based operator, has taken over operations of four retirement communities in North Texas. Aspenwood manages 20 luxury communities, mostly across the southern United States, primarily operating under The Village and The Village on the Park brands. The four new Aspenwood communities, operating under The Village on the Park brand, are located within the North Texas communities of Plano, Denton and McKinney. Together, they feature a total of 366 units. They include:
DALLAS — Edgemere, a continuing care retirement community in North Dallas, has promoted Teresa Bates to executive director. Bates brings more than 25 years of senior living experience to the community. She started with Edgemere in 2002 and assisted with the opening of its health center. She held several positions within the community for 17 years before returning in 2022 as the associate executive director. As executive director at Edgemere, Bates oversees the daily operations of the community across all departments and team members.
PLANO, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 65-unit assisted living and memory care community in Plano, north of Dallas. The community was originally built in the 1990s. A national developer/investor engaged Blueprint to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. The communities were purchased in a sizable portfolio transaction pre-COVID under a value-add plan to implement operator transitions to create regional groupings coupled with renovations and repositioning. Unfortunately, the cumulative impact of …
FORT WORTH, Texas — Nonprofit senior living provider Buckner Retirement Services has acquired The Stayton at Museum Way, a seniors housing community in Fort Worth. The Stayton at Museum Way is an 11-story continuing care retirement community featuring 188 independent living units, 42 assisted living units, 20 memory care units and 46 skilled nursing units. The seller, Lifespace Communities, acquired The Stayton in 2019 and has operated it since. The price was not disclosed. The Stayton will be the seventh senior living community owned and operated by Buckner in Texas, …
PFLUGERVILLE, Texas — Integral Senior Living has named Michael Salyers as executive director of Sage Valley Senior Living in the Austin suburb of Pflugerville. Salyers has been working in hospitality for 25 years in various leadership roles within the hotel industry. After years of working around the U.S., the University of Houston graduate returned to Texas in 2018 to combine his experience in hospitality with his passion for serving others in senior living. Salyers has worked in independent living, assisted living and memory care in the Austin, Houston and San …
COLUMBIA, MO., and HOUSTON — CareTrust REIT Inc. (NYSE: CTRE) has acquired three skilled nursing facilities for approximately $55.6 million, inclusive of transaction costs. The portfolio, consisting of 210 skilled nursing beds and 24 assisted living units, will be added to CareTrust’s existing master lease with affiliates of PACS Group Inc., which has been operating the facilities for a third-party landlord. Two of the facilities are located in Houston and one is located in Columbia. The acquisition increases annual rent under the existing PACS master lease by approximately $5 million. …
