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CCRCDevelopmentFinanceNewsTexas

Ziegler Arranges $197.7M Bond Financing for The Outlook at Windhaven in Plano, Texas

by Jeff Shaw

PLANO, Texas — Ziegler has arranged $197.7 million in bond financing for the Outlook at Windhaven Forefront Living, a seniors housing community in Plano. The property is currently in the development process. Designs call for 153 independent living apartments, 30 independent living cottages, 32 assisted living units and 24 memory care units. The proceeds will be used to refinance the cost of acquiring, developing and constructing the retirement community. The borrower is Forefront Living, formerly known as Presbyterian Communities and Services. The financing comprises $109.5 million of tax-exempt bonds, $88.2 …

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AcquisitionsNewsSkilled NursingTexas

Ensign Group Acquires 138-Bed Park Manor of McKinney in Texas

by Jeff Shaw

MCKINNEY, Texas — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of Park Manor of McKinney, a 138-bed skilled nursing facility in McKinney. Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company, will own the real estate. This acquisition brings Ensign’s portfolio to 259 healthcare operations, 26 of which also include senior living operations, across 13 states. Ensign subsidiaries, including Standard Bearer, now own 106 real estate assets.

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AcquisitionsCCRCNewsTexas

Grandbridge Brokers Sale of 664-Unit CCRC Portfolio in Texas

by Jeff Shaw

ABILENE, AMARILLO and TYLER, Texas — Grandbridge Real Estate Capital’s seniors housing investment sales team has arranged the sale of a three continuing care retirement communities (CCRC) in Texas. Lifespace Communities acquired the properties from RSF Partners, Evergreen Senior Living Properties and ER Senior Management. The price was not disclosed. The 664-unit portfolio provides a full continuum of care including independent living cottages and apartments, assisted living, memory care and skilled nursing in a hybrid structure of entrance-fee and rental contracts. The properties include Wesley Court in Abilene, The Craig …

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AcquisitionsNewsSkilled NursingTexas

JLL Brokers Sale of 100-Bed Methodist Transitional Care Center in DeSoto, Texas

by Jeff Shaw

DESOTO, Texas — JLL Capital Markets has arranged the sale of Methodist Transitional Care Center, a 100-bed, 66-unit transitional care facility in the Dallas suburb of DeSoto. JLL represented the seller, Madison Marquette, in the sale to LFI Real Estate. The absolute net lease has just over 13 years of primary term remaining at sale, and there are also two five-year renewal options. Although the price was not disclosed, the capitalization rate based on first-year rent is 6.8 percent. Methodist Transitional Care Center is leased to a joint venture between …

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AcquisitionsAssisted LivingGeorgiaNewsTexas

1031 Crowdfunding Acquires 109-Unit Portfolio in Texas, Georgia

by Jeff Shaw

DALLAS, Texas, and CLEVELAND, Ga. — 1031 Crowdfunding has acquired a 137-bed, 109-unit assisted living and memory care portfolio. The two properties, located in Dallas and Cleveland, were 95.6 percent occupied at the time of sale. Iris Senior Living and Over the Top Management will operate the two properties, known as Iris Memory Care and Laurel Lodge.

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AcquisitionsActive AdultNewsTexas

Lloyd Jones, ST Real Estate Acquire 138-Unit Trinity Courtyard in Fort Worth

by Jeff Shaw

FORT WORTH, Texas — Lloyd Jones, in partnership with with ST Real Estate Holding Inc., has acquired Trinity Courtyard, a 138-unit active adult community in Fort Worth. Trinity Courtyard is located on six acres near downtown Fort Worth, the second fastest- growing large city in the United States, giving residents access to a diverse array of entertainment, retail and outdoor recreation. The property will operate under Lloyd Jones’ proprietary Aviva brand as AVIVA Fort Worth. The seller and price were not disclosed.

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ArizonaDevelopmentNewsOperationsTexas

Integral Senior Living to Operate Two Communities in Texas, Arizona

by Jeff Shaw

PFLUGERVILLE, Texas, and QUEEN CREEK, Ariz. — Integral Senior Living has taken oer operations of Sage Valley Senior Living in Pflugerville and Mojave Sage Senior Living in Queen Creek. Both properties provide assisted living and memory care services. This addition comes shortly after ISL announced expanding its portfolio with four new communities in Utah and Nevada. Investcor owns the communities. Sage Valley is set to open its doors early 2023, with Mojave Sage opening in 2024.

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DevelopmentNewsTexas

Forefront Living Starts Construction of 239-Unit The Outlook at Windhaven in Plano, Texas

by Jeff Shaw

PLANO, Texas — Forefront Living has broken ground on The Outlook at Windhaven, a seniors housing community in Plano. Architecture firm “three” designed the 18-acre project. Plans call for 30 independent living cottage homes, 153 independent living apartments, and a 56-unit building for assisted living and memory care in a 530,000-square-foot building. A timeline for completion was not released.

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AcquisitionsIndependent LivingNewsTexas

SLIB Brokers Sale of 300-Unit Independent Living Community in Houston

by Jeff Shaw

HOUSTON — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 300-unit independent living community in Houston. The community is approximately 206,000 square feet in total and is situated on approximately 7.6 acres of land. The seller is an owner-operator that wanted to sell a non-core asset to focus on its senior living and skilled nursing assets. The buyer is a California-based real estate owner. The price was not disclosed. The buyer hired a third-party manager that operates several independent living communities in Texas. The property shares services …

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DevelopmentIndependent LivingNewsTexas

JPI Partners Breaks Ground on 185-Unit Independent Living Community in Anna, Texas

by Jeff Shaw

ANNA, Texas — JPI has partnered with the City of Anna to break ground on Parmore Anna Senior Living, a luxury independent living community in Anna, approximately 50 miles north of Dallas. The property will be the first of its kind in Anna and JPI’s second installment in its new line of senior developments. The Anna Housing Finance Corp. is also a partner on the project. The 150,000-square-foot community will span over nine acres and include 185 apartments. The project is scheduled for completion in 2023.

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