ROCKWALL, Texas — Greystone has provided $12.8 million in bridge financing for the acquisition of Highland Meadows Health & Rehab, a 120-bed skilled nursing facility in Rockwall, located on Lake Ray Hubbard northeast of Dallas. DJ Elefant, vice president at Greystone, originated the financing on behalf of HACO Properties LLC. Helios Healthcare Advisors served as the debt broker in the transaction. The nonrecourse bridge financing from Greystone features a 24-month term with one 12-month extension option and interest-only payments for the full term. Greystone has already begun working with the …
TEXAS — VIUM Capital has provided a $15 million bridge loan for the acquisition of a 124-bed skilled nursing facility in Texas. The financing features 100 loan-to-cost ratio and 50 percent recourse that will burn off along with the HUD loan application. The community opened in March 2020. Further details were not disclosed.
DALLAS — North Texas Benevolent Holdings has acquired three seniors housing communities. The locations and details on the properties were not disclosed. The properties were formerly part of Christian Care Centers, which declared bankruptcy. The buyer intends to lease all three communities to affiliates of Boncrest Resource Group Inc. a nonprofit operator North Texas Benevolent Holdings, LLC is owned by McFarlin Group of Dallas and Covington Health Group of Atlanta.
DALLAS and AUSTIN, Texas — Anthology Senior Living has released plans for two new senior living communities in Austin and Dallas that include a total of 251 residences. Once these projects are complete, Anthology Senior Living will have a total of six communities in the state of Texas. Anthology of The Arboretum, located on 2.1 acres in Austin, will offer assisted living and memory care options. The 131,000-square-foot development is located between The Arboretum and The Domain, two major retail centers including many high-end shops and restaurants. The five-story building …
CARROLLTON, Texas — KWA Construction has broken ground on Avenida Carrollton, an active adult community in the Dallas-Fort Worth suburb of Carrollton. Avenida Carrollton will offer a 155-unit apartment building as well as 48 duplex and triplex cottages. The apartment building will rise four stories and total 202,106 square feet. The cottages total 63,925 square feet. Developed by Avenida Partners, a California- and Tennessee-based national real estate development firm, Avenida Carrollton marks the company’s premier project in Texas and will serve as the flagship location of its expansion within the …
FORT WORTH, Texas — SilverPoint Senior Living and Journey Capital have unveiled plans for the development of Edition Senior Living of Fort Worth. Initial plans call for 101 units of assisted living and memory care in a 100,000-square-foot community on nine acres. There are also long-term plans to expand and add independent living facilities. This community will be the fifth collaboration between SilverPoint and Journey Capital. Construction is scheduled to begin close to the end of this year.
TEMPLE, Texas — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 70-unit transitional care facility in Temple, approximately 70 miles north of Austin. Mainstreet developed the newly constructed healthcare property but never opened it. A Texas-based real estate investor acquired the property for $10.5 million. The new owner structured a lease with a national healthcare system based out of Southern California and will operate the facility as a specialty post-acute hospital.
ARLINGTON and ROCKWALL, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sales of Revere Court of Arlington and Revere Court of Rockwall, both standalone memory care communities located in metro Dallas. Constructed in 2011, Revere Court of Rockwall consists of 44 memory care units while Revere Court of Arlington, built in 2000, contains 34 memory care units The communities faced operational challenges in 2020 due to the COVID-19 pandemic in addition to the physical plant being adversely affected by freezing temperatures across Texas in early 2021. The communities …
CARROLLTON, Texas — Avenida Partners and Artemis Real Estate Partners have unveiled plans for Avenida Carrollton, an active adult community in the Dallas suburb of Carrollton. The community will feature 155 market-rate apartments consisting of one- and two-bedroom floorplans, as well as 48 duplex and triplex cottages. Avenida Carrollton will be located on 10 acres, with over 35,000 square feet of interior and exterior amenities. Apartment floorplans will range from 686 square feet to 1,285 square feet; with duplex and triplex cottages ranging from 1,360 square feet to 1,490 square …
AUSTIN, Texas — JLL Capital Markets has arranged the sale of ArborView, a 151-unit active adult community in Austin. JLL represented the seller, Cadence Multi-Family, in the sale of the property to Sparrow Partners. The buyers assumed the existing HUD financing on the project. The price was not disclosed. Opened in 2021, ArborView is located in Greyrock Ridge within the Circle C Ranch master-planned community in southwest Austin. Development of Circle C Ranch began in 1982 and today the community includes over 6,400 homes. Neighborhood amenities include an 18-hole golf …