SPRING, Texas — A joint venture between Braintree Properties and Cadence McShane has broken ground on Aviva Terranova Independent Senior Living Community in Spring, a suburb of Houston. Plans call for a 140,000-square-foot campus comprising four-story, wood-framed structures and 163 units. Additional features include a fitness center, pool, theater, library, Cyber Café and a parking garage with 215 parking spaces. The project is scheduled for completion in late 2023.
BALTIMORE — The Jack and Nancy Dwyer Workforce Development Center Inc., a Baltimore-based investor, has acquired Regency Integrated Health Services and its 50-property skilled nursing portfolio throughout Texas for $590 million. The Regency properties are home to approximately 4,600 residents. Dwyer plans to transition the portfolio from a for-profit to a nonprofit organization under the terms of the transaction. The seller is a group of multiple owners. The transition to a nonprofit was the vision of entrepreneur Jack Dwyer to end systemic poverty and address the growing workforce crisis plaguing …
HOUSTON — The Buckingham, a continuing care retirement community in Houston, has named Philip Jacob as its new executive director. Jacob joined the community as a health care administrator in 2011, and mostly recently served as interim executive director. He brings several years of experience from SavaSeniorCare’s Houston properties. Under his tenure, the community earned and continues to receive a five-star rating from the Centers for Medicare and Medicaid Services (CMS). The healthcare center continues to achieve the highest clinical outcomes in the city and received deficiency-free surveys in 2015 …
GARLAND, Texas — JLL has arranged a $61 million construction loan for The Preserve at Spring Creek, a 230-unit seniors housing project that will be located in the northeastern Dallas suburb of Garland. The country club-style facility will be situated on 35.5 acres and will offer assisted living, independent living and memory care services. Alanna Ellis and Allison Holland of JLL arranged the financing through a regional bank on behalf of the borrower, a joint venture between JAMP Enterprises LLC and Frontier Management LLC. The floating-rate loan carries a 15-year …
GRANBURY, Texas — JLL Capital Markets has arranged the sale of Quail Park of Granbury, a 75-unit independent living, assisted living and memory care community in Granbury, a growing suburb of Dallas-Fort Worth. JLL represented the seller, Living Care Lifestyles, in the sale to Lloyd Jones LLC. Lloyd Jones Senior Living will operate the community going forward, under the name AVIVA Granbury. The sales price was not disclosed. The community comprises two buildings, one offering independent living (41 units) and assisted living (15 units) and one dedicated to memory care …
DALLAS — Forefront Living has completed The Hawthorne, an expansion project at Presbyterian Village North in Dallas. The project added 112 units of independent living at the community’s 66-acre campus. The new building is named after Douglas D. Hawthorne, founding CEO emeritus of Texas Health Resources. Hawthorne was a guiding force behind the expansion.
WACO, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 106-unit assisted living and transitional car facility in Waco. Mainstreet developed the asset in 2015 and it was briefly operational before the property was foreclosed on and left vacant. Situated on 6.7 acres of land within the new, 150-acre mixed used development Legends Crossing, the facility is located adjacent to Baylor Scott & White Medical Center. The buyer was a Texas-based joint venture between Zelevie Health and Skywalker Property Partners. This is the joint venture’s first …
SOUTH TEXAS — VIUM Capital has provided a $17.1 million bridge-to-HUD loan for a skilled nursing facility in South Texas. The transaction refinances existing debt, provides equity-out proceeds and covers transaction costs. The loan features a 60 percent loan-to-value ratio, partial recourse that disappears upon submission to HUD. The borrower leased the property in 2017, exercised its purchase option in 2018, and continued to improve operating performance during COVID. Further details were not disclosed.
LONGVIEW, Texas — Buckner Retirement Services has named David Ummel as the new executive director at Buckner Westminster Place in the East Texas city of Longview. Ummel most recently served as executive director for Calder Woods in Beaumont, which Buckner Retirement Services also operates. A 14-year veteran of Buckner, Ummel worked for Buckner Children and Family Services (BCFS) and Buckner church/ministry engagement prior to his move to Buckner Retirement Services. As a Buckner church engagement officer, he oversaw Faith Fosters Texas, a statewide initiative engaging the faith-based community with the …
WACO, HOUSTON and FORT WORTH, Texas — Blueprint Healthcare Real Estate Advisors has negotiated the sale of four skilled nursing facilities totaling 704 licensed beds in Waco, Houston and Fort Worth. Blueprint marketed the properties on behalf of a court-appointed receiver. The assets were all built in the 1960s. A national owner acquired the properties for $28 million, and plans to lease the facilities out to multiple operators.
