AUSTIN and CEDAR PARK, Texas — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Sedona Trace Health and Wellness Center, a 119-bed skilled nursing facility located in Austin, and Cedar Pointe Health and Wellness Center, a 122-bed skilled nursing facility located in Cedar Park. CareTrust REIT Inc. (NASDAQ: CTRE) acquired the real estate in the transaction and each operation will be added to an existing long-term, triple-net master lease, which is currently in place between Ensign affiliates and CareTrust. Terms of the transactions were not disclosed. This …
AUSTIN, Texas — Ziegler has arranged $56.9 million in bond financing through the New Hope Cultural Education Facilities Finance Corp. for an expansion at Westminster, a continuing care retirement community (CCRC) in Austin. The community is located on approximately 9.3 acres in west central Austin and comprises 324 independent living units, 22 assisted living units and 85 skilled nursing beds (of which 30 are utilized for memory care). Life Care Services (LCS) has operated the property since 1981. Additionally, LCS is providing development services for Westminster’s expansion project. The project …
ILLINOIS and TEXAS — KeyBank Real Estate Capital has arranged $105.9 million in financing to recapitalize a portfolio of six assisted living and memory care properties. The portfolio features 631 units operating under the Heartis brand. The borrower is Dallas-based Caddis Partners. The financing structure consisted of an $80 million syndicated senior credit facility and a $25.9 million mezzanine loan provided by an institutional partner. The portfolio includes: Heartis Clear Lake in Clear Lake Heartis Longview in Longview Heartis San Antonio in San Antonio Heartis Arlington in Arlington Heartis Waco …
TEXAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of a transitional care facility located on the Texas Panhandle. The specific name and location were not released. Mainstreet developed the 70-unit property, but never opened it. The result was a new, purpose-built care facility that is ready for an operator to come in. The vacant property is located within a large medical park and close to several major regional hospitals. A local real estate investor acquired the property with the intent of opening it as a post-acute hospital. …
TEXAS — Oxford Finance LLC (“Oxford”) has provided a $27.5 million senior credit facility to Cascades Healthcare, an owner and operator of long-term care facilities. The funds were used for the acquisition of four skilled nursing facilities located in Texas featuring 647 licensed beds. Cascades Healthcare was founded in 2016 to build and coordinate a network of associated senior care. The company currently operates 19 skilled nursing facilities in Utah, Idaho and Texas, as well as providing operational support to three home health and hospice companies and managing a multi-state …
CORPUS CHRISTI, Texas — SilverPoint Senior Living has partnered with Titan Development to assume operations of Élan Corpus Christi, a 113-unit luxury senior living community located in Corpus Christi. “Élan Corpus Christi is an absolutely beautiful community that reflects the amazing coastline setting of Corpus Christi,” says Shawn Corzine, CEO at SilverPoint Senior Living.
TEXAS CITY, Texas — Oldham Goodwin Group has opened The Huntington at Lago Mar, an apartment community for seniors in Texas City, located southeast of Houston. The property features 148 independent living residences with easy access to major medical centers, airports, public beaches, parks, libraries, shopping and dining. Construction on The Huntington started in November 2019. Oldham Goodwin manages the property, the 13thmultifamily asset in its portfolio.
DENTON and FORT WORTH, Texas — Newmark has brokered the sale of Attiva Denton and Attiva Park, two seniors housing properties totaling 402 units in North Texas. The first property totals 240 units and is located in Denton, and the second property comprises 162 units and is located on the southern side of Fort Worth. Ryan Maconachy and Chad Lavender of Newmark represented the seller, Atlanta-based multifamily development and investment firm Cortland, in the transaction. The buyer was not disclosed.
HOUSTON — Houston Housing and Community Development Department (HCDD), along with an affiliate of Atlantic Pacific Communities, has unveiled plans for Heritage Senior Residences, a mixed-income senior living community in Houston that will replace housing lost during Hurricane Harvey in August of 2017. The project was awarded $14.4 million in Community Development Block Grant-Disaster Recovery (CDBG-DR) funds. In addition, these funds were paired with $13.8 million of equity generated from the sale of housing tax credits, a $9.8 million permanent loan from Citi Community Capital, and a $20.5 million construction …
FRISCO, Texas — SilverPoint Senior Living has formed a new partnership with La Fontaine Memory Care under which SilvrePoint will manage La Fontaine of Frisco in Frisco, a suburb of Dallas. “As SilverPoint is continuing to grow, we want to be strategic as we add to the portfolio of communities we manage. We truly connected on a personal level with the ownership group and both agreed that SilverPoint can add value to the La Fontaine community,” says Shawn Corzine, CEO at SilverPoint. “Paramount Healthcare’s expertise has historically focused on individuals …