Texas

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 …

0 FacebookTwitterLinkedinEmail

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 …

0 FacebookTwitterLinkedinEmail

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 …

0 FacebookTwitterLinkedinEmail

KATY, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of an assisted living and skilled nursing facility in Katy, a suburb of Houston. Opened in 2018, the facility consists of 70 short-term rehab beds and 34 assisted living beds across 78 units. The community maintained a steady lease-up trajectory that was quickly halted due to industry-wide COVID headwinds that caused statewide decreases in elective surgeries. With a minimal amount of dually certified beds, the seller struggled to turn a profit, according to Blueprint. The seller was a …

0 FacebookTwitterLinkedinEmail

CARROLLTON, Texas, and OKLAHOMA CITY ­— Surpass Senior Living has taken over management of The Gardens at Quail Springs in Oklahoma City and Carrollton Gardens in Carrollton.  Surpass Senior Living is a subsidiary company of McFarlin Group LLC, a Dallas-based private equity firm focused on the senior living industry and the owner of the communities.  Further details were not disclosed.

0 FacebookTwitterLinkedinEmail

PFLUGERVILLE, Texas — Thorofare Capital has provided a bridge loan to Wilson Capital to refinance an existing construction loan on The Jovie at Pflugerville.  The newly completed, 182-unit, Class A active adult multifamily community opened in mid-2023 and is situated roughly 20 miles north of Austin. The loan amount was not disclosed. Thorofare’s director of originations, Jonathan Hart, originated the loan with colleagues Eddie Prosser, head of credit, and Henry Johnson, senior associate leading the underwriting. Wilson Capital was represented by B.K. Newsom, vice president of capital markets at CBRE …

0 FacebookTwitterLinkedinEmail

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.

0 FacebookTwitterLinkedinEmail

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 …

0 FacebookTwitterLinkedinEmail

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 …

0 FacebookTwitterLinkedinEmail
Newer Posts