HOUSTON — HJ Simshas arranged $2.8 million PACE financing, a government program that funds energy efficiency and renewable energy improvements on private property, on behalf of StoneCreek Real Estate Partners. The financing will help fund construction of The StoneCreek of Copperfield, a 104-unit redevelopment of the Copperfield Racquet and Health Club, a longtime landmark of Northwest Houston for more than 30 years. The 104-unit independent living, assisted living and memory care project was announced in January. The operator will be Civitas. While assisting StoneCreek in its search for financing alternatives, …
BEAUMONT, Texas — Buckner Retirement Services has named Shane Gabis as the executive director of Buckner Calder Woods in Beaumont, located east of Houston near the Louisiana border. Gabis previously worked for senior living provider Life Care Services in various capacities, including the past 10 years as a community executive director. He also served as a team leader in operational reviews and as a health care administrator. Located in Beaumont’s growing west end, Calder Woods is a 17-acre community providing affordable senior living. The continuing care retirement community offers a …
ALEDO, Texas — Civitas Senior Living, a senior living management company, and Journey Capital, a senior housing development company, have broken ground on the Harvest of Aledo Senior Living, a luxury independent living, assisted living and memory care community in Aledo, approximately 20 miles west of Fort Worth. The development marks the third collaboration between Civitas and Journey Capital and the second Harvest Senior Living development. The new, 68,000-square-foot community will be situated on 7.5 acres featuring 20 independent living villas as well as 67 assisted living and 24 memory …
HOUSTON — Heavenrich & Co. has arranged the sale of Pathways Memory Care, a 60-unit skilled nursing memory care facility located in Northwest Houston. Pathways was built in 2014 on an 80-acre medical campus that includes the Kelsey Seybold Clinic and Villa Toscana, an 86-unit skilled nursing facility that Heavenrich sold in 2020. StoneGate Senior Living, a national owner-operator sold the property to an undisclosed buyer for an undisclosed price. In preparing for the sale, StoneGate converted the property to private pay, established a new operator and worked with a …
EL PASO, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of three seniors housing communities — SunRidge of Cambria, Cielo Vista and Desert Springs — in El Paso totaling 167 units of assisted living and memory care. The communities were built in 1995, 1998 and 2000 and maintained 89 percent, 87 percent and 90 percent occupancy, respectively, at an early point of the onset of COVID-19. The seller is a debt and equity capital provider looking to divest of a non-core market, while the buyer is a …
SAN ANTONIO — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of San Pedro Manor, a 150-bed skilled nursing facility in San Antonio. The acquisition was effective Feb. 1, and will be subject to a long-term, triple-net lease. The seller and landlord were not disclosed. This acquisition brings Ensign’s growing portfolio to 232 healthcare operations, 24 of which also include assisted living operations, across 13 states.
DALLAS — The Legacy Senior Communities (LSC) has completed construction of The Legacy Midtown Park, a seniors housing community in North Dallas. Located on a 12-acre plot, the property features 184 rental independent living apartments, 51 assisted living apartments, 36 memory support residences and 54 private skilled nursing and rehabilitation suites. Development costs were estimated at $186 million. “The new senior community will have capacity to serve over 500 residents and will create over 300 new jobs,” says Legacy Senior Communities CEO Melissa Orth. Construction began in 2018, with the …
KERRVILLE, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of Villagio of Kerrville, a 36-unit seniors housing community in Kerrville, approximately 65 miles northwest of San Antonio. The community has maintained occupancy levels more than 90 percent and operational margins around 30 percent over recent historical periods (adjusted for COVID-19). The community is well located near Kerrville’s primary retail corridor and less than three miles from two large hospitals — Peterson Regional Medical Center and the Kerrville State Hospital. Local senior demographics are projected to grow significantly …
HURST, Texas — Gardner Capital has broken ground on Gala at Central Park, an affordable seniors housing community in the Fort Worth suburb of Hurst. The 94-unit senior complex, with a mix of one- and two-bedroom apartments, will include a three-story residential building and a two-story clubhouse with a variety of resident amenities. Construction in slated for completion in early 2022. Treymore Construction will serve as general contractor for the project. Hurst Public Facility Corp. is the development partner, while NDC Corporate and Redstone are the financial partners for the …
HOUSTON — Civitas Senior Living, a senior living operator, and StoneCreek Real Estate Partners, a seniors housing developer, have announced plans for StoneCreek of Copperfield in Houston. The project will be a redevelopment of the Copperfield Racquet and Health Club, a longtime landmark of Northwest Houston for more than 30 years. The 98,000-square-foot community will be situated on 6.6 acres featuring 12 independent living villas as well as 74 assisted living and 18 memory care units. Other project partners include Pi Architects and interior design firm Senior By Design. Ground-up …