HOUSTON — CBRE has arranged $55.5 million refinancing for The Village of River Oaks, a Class A, 198-unit continuing care retirement community (CCRC) in Houston.
Texas
Chicago Pacific Founders Acquires Assisted Living, Memory Care Community in Richardson, Texas
by Jeff Shaw
RICHARDSON, TEXAS — Chicago Pacific Founders and its subsidiaries, CPF Living Communities and Grace Management, have purchased Twin Rivers Assisted Living and Memory Care, a seniors housing community located in Richardson. Situated on five acres, the community features 83 assisted living and memory care units, as well as amenities and programming for residents. The buyer plans to invest in the facilities to enhance the quality of life for all stakeholders — residents, families, associates and prospective residents. Terms of the deal were not disclosed. Grace Management will manage the property.
Ilan Investments Breaks Ground on 229-Unit Independent Seniors Living Community in Houston
by Jeff Shaw
HOUSTON — Ilan Investments has broken ground on Arella on Jones, an independent senior living community located in Northwest Houston. The project developed by Houston-based Ilan Investments and co-financed by Ilan Development and Bancorp South. Designed by Meeks Partners, the community will be built by Dallas-based general contractor Spring Valley Construction. Slated to open for occupancy in summer 2022, Arella on Jones will feature 229 units and multiple amenities, including an outdoor pool, outdoor kitchen and dining area, dog park, golf putting green, outdoor gaming area, cabana, interior/exterior walking paths, a …
BOERNE AND ROUND ROCK, Texas — CBRE Capital Markets has arranged a three-year, floating-rate loan, including 24 months of interest-only payments, on behalf of a joint venture between Harrison Street and Franklin Development Properties for the refinancing of two assisted living and memory care facilities in Texas. The portfolio consists of Franklin Park Boerne and Franklin Park Round Rock, two 76-unit assisted living and memory care community. Both properties were developed by the borrower in 2017. The communities feature a variety of amenities including a full-service hair and nail salon, theatre, …