DALLAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 60-unit assisted living and memory care community in Dallas. An institutional owner-operator sold the property to a Dallas-based developer, owner and operator looking to expand. The price and name of the facility were not disclosed. The property was “trending toward 75 percent” occupancy with neutral cash flow at the time of sale, according to Blueprint. The median home price within three miles of the community is 72 percent higher than the state average and 44 percent higher …
Texas
HOUSTON — JLL Capital Markets has arranged both the sale of and financing for The Gardens at Spring Shadows, a 384-unit independent living community in Houston’s Spring Branch submarket. JLL served as the seller’s listing agent. Additionally, JLL’s debt placement team worked on the new owner’s behalf to arrange a three-year, floating-rate loan with two one-year extension options through Ready Capital. In addition to funding the acquisition, the balance of the loan will be used for the rehabilitation of the property. The Gardens at Spring Shadows sits on 11.4 acres. …
ARLINGTON, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Greenfield Residences of Arlington, an independent living community in Arlington, between Dallas and Fort Worth. The property was built in 2002 and totals 128,496 square feet on 5.8 acres. The community features 24 studio units, 130 one-bedrooms and 24 two-bedrooms. A publicly traded investor sold the property to an owner-operator from the Dallas-Fort Worth area for $12.5 million. SLIB marketed the sale as a value-add opportunity, as the community was only 67 percent occupied at the time …
WEATHERFORD, Texas — Civitas Senior Living and PremCap Senior Living have opened West Fork at Weatherford, located west of the Dallas-Fort Worth Metroplex. The 75,800-square-foot community offers 70 assisted living apartments and 19 memory care suites. The community is located near Weatherford’s historic downtown and directly adjacent to Medical City Weatherford.
DALLAS and NEW BRAUNFELS, Texas — New Braunfels-based SilverPoint Senior Living, a newly formed management company led by CEO Shawn Corzine, has signed an expansion partnership with Journey Capital, a Dallas-based real estate development company led by hospitality entrepreneurs Anand Patel and Narayan Patel. With its investment in SilverPoint, Journey Capital’s co-founders will also assume roles as partners in the management company Journey Capital will work with SilverPoint to grow its development and acquisition pipeline and lean on the company for third-party management and consulting services. While SilverPoint is currently …
ALEDO, Texas — Civitas Senior Living, a senior living management company, and Journey Capital, a seniors housing development company, have unveiled plans for Harvest Senior Living in Aledo, approximately 15 miles west of downtown Fort Worth. The 68,000-square-foot community will be situated on 7.5 acres featuring 20 independent living villas, 70 assisted living units and 20 memory care residences. Harvest of Aledo is near Walsh Ranch, a $6 billion master-planned community that will eventually add up to 50,000 residents and more than 15,000 upscale homes to the area. “The greater …
LUBBOCK, Texas, and HUNTSVILLE, Ala. — Walker & Dunlop has structured $13.1 million in financing for Crown Point Health Suites, a skilled nursing facility in Lubbock, and $33.6 million in financing for Regency Retirement Village of Huntsville, a continuing care retirement community (CCRC) in Huntsville. Built in 2011, Crown Point Health Suites is a 96-unit, Class A+ facility in West Texas. Regency Retirement Village of Huntsville is a 312-unit CCRC built in 1980, with a skilled nursing expansion completed in 2016. The two transactions were both refinancings through HUD’s 232/233(f) …
WIMBERLEY, Texas — Civitas Senior Living has opened the doors on Alexis Pointe Senior Living in Wimberley, a small city between Austin and San Antonio. Totaling 55,000 square feet, the property features 10 independent living cottages, 49 assisted living apartments and 24 memory care suites. The community is located a quarter mile from the Wimberley Senior Center and a half mile from Wimberley Town Square. Civitas now owns and operates 40 seniors housing communities, with 15 more under development.
Buckner Opens Assisted Living, Memory Care Units at Ventana High-Rise Project in Dallas
by Jeff Shaw
DALLAS — Buckner Senior Living has opened the assisted living and memory care units at Ventana by Buckner, a 301-unit high-rise seniors housing community in Dallas. The 189 independent living units opened in November 2019. The State of Texas granted the license for the 38 assisted living and 26 memory care apartments, and residents have begun moving in. Ventana is Dallas’ first and only luxury high-rise continuing care retirement community, according to Buckner. The property also features 48 skilled nursing apartments and 24 rehabilitation suites.
ROUND ROCK, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of Wyoming Springs, a 100-unit assisted living and memory care community in Round Rock, a suburb of Austin. One Liberty Properties Inc. (NYSE: OLP), a publicly traded REIT based in New York, sold the property for an undisclosed price. The buyer was a New York-based private equity fund looking to expand its seniors housing presence. Wyoming Springs was the only seniors housing asset in One Liberty’s portfolio and was being operated by Senior Care Centers LLC, which …