HOUSTON — MorningStar Senior Living and Hines have opened MorningStar at River Oaks, a seniors housing community in Houston’s River Oaks neighborhood. The community features 85 assisted living and 27 memory care units. The community is Denver-based MorningStar’s first in Texas. Partners on the project include Munoz + Albin Planning & Architecture, Kirksey Architecture, Thoma-Holec Design, TBG Partners and D. E. Harvey Builders.
VICTORIA, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Retama Manor Nursing Home, a skilled nursing facility in Victoria, located between Houston and San Antonio. An independent owner sold the community for $4.4 million, as the lease with the operator was set to expire at the end of the year. The buyer is an owner-operator that will take over operations. The facility consists of 142 beds and was built in 1969 totaling approximately 29,510 square feet on three acres of land. Matthew Alley of SLIB handled …
SAN ANTONIO — Merchants Capital has arranged $102 million in combined debt and equity financing to support the redevelopment of Granada Homes, a historic affordable housing property located along the River Walk in the heart of downtown San Antonio. Originally constructed in 1927 as the Plaza Hotel, the property is currently a mixed-use, 14-story high-rise housing the low- and very-low-income senior population. The financing for the project includes a $43 million Merchants Bank of Indiana construction loan and $35 million in Merchants Capital syndicated tax credit equity. Merchants Capital also …
THE WOODLANDS, Texas — Ziegler has arranged $116.1 million in bond financing for Methodist Retirement Communities (MRC), a nonprofit owner-operator based in the Houston suburb of The Woodlands. The borrower owns 13 seniors housing communities throughout Texas. The transaction brings The Crossings and Crestview under the same financing structure as four other MRC communities, while refinancing that debt. The bonds are privately placed with Truist Bank and Hancock Whitney Bank.
MCKINNEY, Texas — Architecture firm Three has completed design and started construction of Touchmark at Emerald Lake, a seniors housing community in the northern Dallas suburb of McKinney. Located on 81 acres, the community will be built in two phases. The first phase will feature 149 independent living apartments, six casitas (duplex residences), 84 assisted living and 32 memory care residences. Thirty-two of the assisted living homes will be studios offering a smaller neighborhood environment and higher resident-to-staff ratio. A future phase will add a health and fitness center with …
CARROLLTON, Texas — An affiliate of Livingston Street Capital, a private equity firm, has acquired Atlas Point at Prestonwood, a 183-unit active adult community in Carrollton, located in the Dallas-Fort Worth Metroplex This asset brings Livingston’s overall investment in the Dallas-Fort Worth active adult market to $150 million within six months, according to Peter Scola, founder, president and co-CEO of the company. “The Dallas Fort-Worth area appeals across demographics, as it offers an abundance of outdoor amenities, retail destinations, metropolitan conveniences and a great climate,” says Scola. “The population for …
DALLAS — Cadence McShane Construction Co. has started construction of Anthology of Highland Park, located in the Highland Park neighborhood of Dallas. Anthology Senior Living is developing the 11-story assisted living community, which will feature 121 units. PRDG is the designer. The 130,000-square-foot development will incorporate 24 memory care units occupying the second floor, and 97 assisted living units on the remaining floors. The assisted living units will include eight studios, 53 one-bedroom and 36 two-bedroom/two-bath configurations. Construction will also include below-grade parking and ground-level parking, providing 58 spaces for …
HENRIETTA, OLNEY and NOCONA, Texas — Senior Living Investment Brokerage has arranged the sale of three skilled nursing facilities located in Henrietta, Olney and Nocona. The portfolio totals 250 beds. The assets total 14,500 square feet on 0.77 acres, 20,000 square feet on 2.07 acres and 23,000 square feet on 3.03 acres, respectively. The properties are within approximately 90 miles of each other and located northwest of Dallas near the Oklahoma border. An independent owner-operator exiting the industry sold the facilities for $7.8 million. The buyer was an out-of-state owner-operator …
IRVINE, Calif. — Sabra Health Care REIT (NASDAQ: SBRA) has completed the $23.6 million acquisition of a 113-unit seniors housing property in Jasper, Indiana. The deal is a sale-leaseback transaction with the seller and operator, Legacy Living. The asset opened in 2019 and features 18 independent living cottages, 70 assisted living units and 25 memory care units. The lease has an initial term of 15 years with two five-year extension options. In a simultaneous, but unrelated, transaction, Sabra also transitioned three of its skilled nursing facilities to a new operator. …
DALLAS — Lument has provided $25 million in short-term bonds and a $22.1 million Freddie Mac unfunded forward loan for The Oaks, a mixed-income seniors housing development in Dallas The borrowers are co-developers DHA Housing Solutions for North Texas and the Volunteers of America National Services (VOANS). Tracy Peters, senior managing director, and Dale Giffey, associate director, led the transaction for Lument. The Oaks is being co-developed by DHA and VOANS, the latter of which is also the sponsor and guarantor. DHA is the tenth largest housing authority in the …
