Texas

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Affordable HousingDevelopmentFinanceNewsTexas

Walker & Dunlop Arranges $30M Financing for Affordable Seniors Housing Project in Texas

by Hayden Spiess

MESQUITE, Texas — Walker & Dunlop has arranged approximately $30 million in financing for Avanti Hills, an affordable seniors housing community currently under development in Mesquite in the Dallas-Fort Worth metro. The project is being developed by a joint venture between KCG Development, The Javelin Group and the Mesquite Housing Finance Corp.  Walker & Dunlop Affordable Housing Equity provided low-income housing tax credit (LIHTC) equity for the project, which is supported by tax-exempt bond financing through the Mesquite Housing Finance Corp. Citi Community Capital and Bank of America are serving as …

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FinanceMemory CareNewsTexas

Cambridge Provides $5M HUD-Insured Loan for Memory Care Property in Texas

by Hayden Spiess

IRVING, Texas — Cambridge Realty Capital has provided a roughly $5 million HUD-insured loan for the refinancing of Avalon Memory Care, a memory care property located in Irving.  The borrower is a Texas-based limited liability company. According to Cambridge, the loan was part of a larger $29.7 million loan package to replace mortgage debt on eight communities throughout the Dallas-Fort Worth metro. 

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Active AdultDevelopmentNewsTexas

ARCTRUST, Edison Equity Residential to Develop 175-Unit Active Adult Community in Texas

by Hayden Spiess

DRIPPING SPRINGS, Texas — ARCTRUST Private Capital and Edison Equity Residential have announced plans to develop a new active adult community in Dripping Springs, roughly 25 miles west of Austin.  Upon completion, Serenova at Dripping Springs will total 175 units reserved for residents age 55 and older. Residences will include 133 one-and two-bedroom apartments, as well as 42 private villas. Amenities at the property will include a restaurant and bar, fitness centers, a swimming pool, creative arts studio, club room, community lounge and marketplace and concierge services including assistance with reservations, …

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NewsOperationsTexas

12 Oaks Senior Living Assumes Management of Community Near Houston

by Hayden Spiess

PEARLAND, Texas — 12 Oaks Senior Living has assumed management of The Reserve at Pearland, an assisted living and memory care community located in Pearland, about 20 miles southeast of Houston.  12 Oaks plans to implement capital improvements, operational enhancements and resident experience initiatives at the property.   Based in Dallas, 12 Oaks operates communities in Kansas, Oklahoma, Texas and Utah. 

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AcquisitionsNewsTexas

Town Lane, Arcole Acquire 186-Unit Community Near Houston

by Hayden Spiess

LEAGUE CITY, Texas — Town Lane and Arcole Partners have acquired Grand Living at Tuscan Lakes, a seniors housing community located in League City, approximately 25 miles southeast of Houston.  Bow River Capital and Ryan Cos. developed and sold the property, which totals 186 units. Opened in 2023, the community features independent living, assisted living and memory care. Amenities at the property include multiple dining venues, a 150-seat theater, spa, fitness center, library and lounge, swimming pool and hot tub.  Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia …

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AcquisitionsAssisted LivingMemory CareNewsTexas

Juniper Adds Two Texas Communities to Portfolio

by Hayden Spiess

FREDERICKSBURG, Texas and SAN ANTONIO — Juniper Communities has acquired two Texas communities.  The properties include Poet’s Walk in San Antonio and The Villages of Windcrest in Fredericksburg. In addition to owning the communities, Juniper will operate them moving forward.  Poet’s Walk totals 70 memory care units, and The Villages of Windcrest features 57 assisted living apartments and 24 memory care apartments.  Juniper currently operates 28 senior living communities in New Jersey, Pennsylvania, Delaware, Texas and Colorado. 

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Affordable HousingDevelopmentNewsTexas

Onyx Legacy Group, Lincoln Avenue Communities to Develop 229-Unit Affordable Community in Dallas

by Hayden Spiess

DALLAS — Onyx Legacy Group and Lincoln Avenue Communities are underway on plans for the development of a new affordable seniors housing community in Dallas.  The Texas Bond Review Board has issued a $38 million bond reservation to the Dallas Housing Finance Corp. in support of the project, and the City of Dallas has issued an early release letter, which allows initial grading and site mobilization activities to begin.  Upon completion, the property will total 229 units, with 15 percent of residences reserved for seniors earning at or below 50 percent …

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Affordable HousingDevelopmentNewsTexas

NHP Foundation, Partners to Develop 90-Unit Affordable Housing Community in Houston

by Hayden Spiess

HOUSTON — The NHP Foundation (NHPF), an affordable housing developer, with Trinity East Village Community Development Corp. (TECDC) and Housing Alliance HTX, will develop a new affordable seniors housing community in Houston.  Dubbed Trinity East Senior Village, the property will comprise 90 units for residents age 55 and older in the Third Ward neighborhood of Houston. Of the 90 residences, 60 will serve as replacement housing for residents of the Housing Alliance HTX’s Cuney Homes community, which is currently undergoing redevelopment.  Trinity East Senior Village will serve extremely low- and low-income …

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Company NewsNewsPeopleTexas

Sonida Senior Living Appoints Chief Operating Officer

by Hayden Spiess

DALLAS — Sonida Senior Living has appointed Anton Nikodemus to the newly created role of chief operating officer.  Nikodemus previously worked at Seaport Entertainment Group as president, CEO and chairman of the board. Prior to that, he spent 18 years at MGM Resorts International.  “Anton’s appointment reflects Sonida’s conviction that operational excellence and exceptional resident care are the core pillars of operational success,” says Brandon Ribar, president and CEO of Sonida. Dallas-based Sonida’s portfolio includes 153 owned seniors housing communities and 12 communities managed on a third-party basis. 

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Company NewsFinanceNewsTexas

Tradition Senior Living Forms Joint Venture, Recapitalizes Texas Portfolio

by Hayden Spiess

DALLAS — Tradition Senior Living has recapitalized a portfolio of communities located in Texas through the formation of a joint venture with Kayne Anderson Real Estate.  Moving forward, the portfolio, which comprises five communities, will be owned by the newly formed joint venture. TSL will continue to serve as the operator and manager of the properties.  Chad Lavender, Ryan Maconachy, Sarah Anderson, Mills Poynor and Ben McElroy of Newmark arranged the joint venture and secured financing on behalf of the joint venture. 

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