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AcquisitionsAssisted LivingNewsTexas

Blueprint Negotiates Sale of 65-Unit Value-Add Community in Plano, Texas

by Jeff Shaw

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 …

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AcquisitionsCCRCNewsTexas

Buckner Retirement Services Acquires The Stayton at Museum Way in Fort Worth, Texas

by Jeff Shaw

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, …

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Assisted LivingNewsPeopleTexas

Integral Names Michael Salyers Executive Director of Sage Valley Senior Living in Pflugerville, Texas

by Jeff Shaw

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 …

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AcquisitionsMissouriNewsSkilled NursingTexas

CareTrust REIT Acquires Three-Property Skilled Nursing Portfolio in Texas, Missouri for $55.6M

by Jeff Shaw

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. …

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AcquisitionsNewsSkilled NursingTexas

Sherman & Roylance Brokers $8.1M Sale of Skilled Nursing Facility in Texas

by Jeff Shaw

TEXAS — Sherman & Roylance has negotiated the sale of a 104-bed skilled nursing facility in Texas. A physician owner sold the asset to a California-based buyer for $8.1 million. Sherman & Roylance also arranged acquisition financing. The facility was built in 2018 and features 94 Medicare and 10 Medicaid beds. Further details were not disclosed.

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AcquisitionsNewsSkilled NursingTexas

Blueprint Brokers Sale of Two Skilled Nursing Facilities in East Texas

by Jeff Shaw

TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities totaling 320 licensed beds in East Texas. Following historical census lows and staffing challenges endured as a result of the pandemic, the two facilities were positively trending back towards historically achieved stabilized levels when the seller sought an exit. Further enhancing the attractiveness of the opportunity was the assumable HUD debt featuring an interest rate of 2.9 percent and a remaining term of over 25 years. Details on the buyer, seller and price were …

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DevelopmentNewsTexas

The Legacy Plans Expansion of The Legacy Willow Bend in Plano, Texas

by Jeff Shaw

PLANO, Texas — The Legacy Senior Communities has unveiled plans for an independent living expansion of The Legacy Willow Bend, its flagship community in Plano.  This initiative aims to meet the demand for premium senior living, as Dallas-Fort Worth experiences a significant demographic trend towards a growing senior population, according to the company.  The expansion, with its hybrid-home design, will offer all the privacy of a single-family home, while still maintaining a sense of community and security that having a few neighbors will bring. This new model presents an entirely …

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AcquisitionsNewsSkilled NursingTexas

Marcus & Millichap Negotiates Sale of Nine-Property Skilled Nursing Portfolio in Metro Dallas

by Jeff Shaw

DALLAS — Marcus & Millichap (NYSE: MMI) has arranged the sale of a portfolio of eight skilled nursing facilities and one assisted living facility totaling 1,080 licensed beds in the Dallas-Fort Worth Metroplex. “Secured by assumable nonrecourse government agency financing at below-market interest rates, the buyer made a strategic acquisition with built-in financing,” says Nick Stahler, first vice president investments in Marcus & Millichap’s Orange County office. “The portfolio’s occupancy rate at the time of the sale provides significant upside through occupancy growth, improvement of payor mix, and expense control.”  …

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Affordable HousingFinanceGeorgiaNewsTennesseeTexas

BWE Arranges $60M in Financing for Affordable Housing Projects in the South

by Jeff Shaw

DALLAS, ATLANTA and NASHVILLE — BWE has arranged three financings totaling over $60 million to build, renovate and provide permanent financing for three affordable multifamily housing properties. Jon Killough and John Roberts originated the Freddie Mac tax-exempt loans on behalf of the borrowers. In the first transcation, BWE arranged a $14.2 million loan for Villages at Carver in Atlanta. The borrower, an Atlanta-based developer and operator, will fund renovations and permanent financing for the 220-unit, mixed-income, garden-style apartment complex. The development houses a mix of one-, two-, three-, and four-bedroom …

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AcquisitionsAssisted LivingNewsTexas

Blueprint Brokers Sale of 93-Unit Community in Preston Hollow Neighborhood of Dallas

by Jeff Shaw

DALLAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 93-unit assisted living and memory care community in the Preston Hollow area of Dallas. The seller was a national developer and investor looking 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 sizeable portfolio transaction pre-COVID, under a value-add thesis contemplating operator transitions to create regional groupings coupled with the intent to meaningfully invest in renovations and repositioning. Unfortunately, according to …

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