GRAPEVINE, Texas — Pegasus Senior Living will assume the management of eight communities in Texas and New Mexico. The Properties are currently operated by LifeWell Senior Living under its Legacy brand name. The eight communities collectively total 652 units. All locations offer both assisted living and memory care. With the addition of the eight LifeWell communities, Pegasus will operate 43 senior living communities, with 13 located in Texas and New Mexico. Further details were not disclosed.
Texas
LifeCare Properties Sells 112-Unit Blake at New Braunfels in Texas to Inspired Healthcare Capital
NEW BRAUNFELS, Texas — LifeCare Properties (LCP) has sold The Blake at New Braunfels to Inspired Healthcare Capital for an undisclosed price. The Blake at New Braunfels is a 112-unit assisted living and memory care community in New Braunfels, northeast of San Antonio in the heart of Texas Hill Country. Built in 2021, the Class A property features 71 assisted living units and 41 memory care units. Blake Management Group will continue to operate the property under the new ownership. Cody Tremper and his team at Berkadia Seniors Housing & …
Hunt Capital Partners Arranges $13.2M Financing for Oak Lofts Crossing Affordable Community in Stafford, Texas
STAFFORD, Texas — Hunt Capital Partners has arranged $13.2 million in Low-Income Housing Tax Credit financing for the construction of Oak Lofts Crossing for Seniors, a 60-unit affordable seniors housing community in the Houston suburb of Stafford. Oaklake Community Housing Development Corp. (OCHDC) is the borrower. Comprised of a four-story, elevator-serviced, mid-rise building, the development will offer a mix of one- and two-bedroom affordable homes for those who earn up to 30 percent, 50 percent and 60 percent of the area median income (AMI). Oak Lofts Crossing provides a much-needed …
HOUSTON — Senior Living Investment Brokerage (SLIB) has arranged the sale of Treemont Health Care Center, a 112-bed assisted living and skilled nursing community in Houston. Built in 1974, the 39,058-square-foot community sits on approximately 1.3 acres. The bed mix is 42 assisted living and 70 skilled nursing. A regional owner-operator sought to exit the property due to the post-pandemic operating difficulties. The buyer was a local owner-operator looking to expand in Houston. The buyer assumed a HUD loan associated with the property. The price was not disclosed Vince Viverito, …
LONGVIEW, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Haven Care, a 108-bed skilled nursing facility in the East Texas city of Longview. The property totals 24,653 square feet on three acres of land. The seller was a Texas-based partnership looking to divest of its only seniors housing community. The buyer was an owner-operator with several other facilities in the state, including in the Longview market. The price was not disclosed. Matthew Alley of SLIB handled the transaction.
NEW BRAUNFELS, Texas — Berkadia has arranged the sale of The Blake at New Braunfels, a resort-style, 112-unit assisted living and memory care community in New Braunfels, a suburb of San Antonio. Berkadia Seniors Housing & Healthcare, led by Cody Tremper, Mike Garbers, Dave Fasano and Ross Sanders, closed the transaction on behalf of Biloxi, Mississippi-based LifeCare Properties, a wholly owned subsidiary of Comvest Properties. Scottsdale, Arizona-based Inspired Healthcare Capital was the buyer. The price was not disclosed. The Blake at New Braunfels is a new vintage, Class A community …
AUSTIN, Texas — Sherman & Roylance has brokered the sale of an eight-acre development site in Austin. The property, previously approved by the City of Austin for a two-story, 98-unit assisted living and memory care facility, faced construction delays and ultimately ended up in foreclosure by Woodforest Bank in September 2023. The “as designed” construction halted in 2022. Woodforest Bank sold the partially completed project to Novak Brothers, which may convert the project into a general multifamily development. “This was a challenging assignment, given the unfinished state of the property …
FORT WORTH, Texas — Sagora Senior Living, a Fort Worth-based operator, has taken over management of 17 senior living communities across Alabama, Florida, Nebraska, Oklahoma and Texas. Sagora expands its footprint in Vero Beach, Florida with the addition of two new communities: Heron Cove Assisted Living and Memory Care and Heron Point Independent Living. Both communities are located less than 10 miles from The Brennity of Vero Beach, another Sagora community. Sagora also recently opened Lynridge of Huntsville Assisted Living and Memory Care, expanding the operator’s Lynridge brand to a …
SAN MARCOS, Texas — JLL Capital Markets has arranged the sale of Sage Spring Senior Living, a community in San Marcos, located between Austin and San Antonio. JLL represented the seller, a joint venture between Bow River Capital and Investcor, and procured the buyer, Inspired Healthcare Capital. The price was not disclosed. Sage Spring Senior Living is a 90-unit assisted living and memory care community that opened in December 2020 and was stabilized at time of sale. San Marcos is one of the fastest growing cities in the nation with …
Grace Management Opens The Lakes at Woodhaven Village Active Adult Community in Conroe, 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 …