THE WOODLANDS, Texas — Kensington Realty Advisors, an investment manager based in Chicago, and SEDCO Capital have jointly acquired The Village at the Woodlands Waterway for an undisclosed price.
The acquisition was financed with a $55.2 million loan from CBRE/Fannie Mae.
The Village is a 207-unit independent, assisted living and memory care facility located in The Woodlands, Texas, 30 miles north of downtown Houston.
The property, completed in 2012, is located along The Woodlands Waterway and is within walking distance to entertainment and shopping.
“We are pleased to acquire such an attractive property in a tremendous location,” says James Smith, managing principal of Kensington.
In conjunction with the acquisition, Kensington retained the Senior Lifestyle Corporation, a senior housing services provider, to take over the operations of the community.
For SEDCO Capital, this acquisition is part of a continued plan to build its seniors housing portfolio this year.