DALLAS — Compatriot Capital, a diversified real estate company and wholly owned subsidiary of Sammons Enterprises Inc., has acquired an equity interest in Dallas-based senior living developer Silverstone Senior Living.
Currently, Compatriot Capital is Silverstone’s largest limited joint venture partner with investments in the company’s Washington, D.C. projects currently in development.
Silverstone Senior Living was established in Dallas in 2012 by hospitality and real estate veterans Denny Alberts and John Goff, who had held executive roles at Crescent Real Estate Equities Inc. Currently, Crescent is an investor in Silverstone. Silverstone initially invested in assets in Texas and Florida. In 2015, the company entered the D.C. market and in 2016 hired Bobby Zeiller, Silverstone’s co-chief executive officer, who conceptualized the development plan for the initial phase of investments in Maryland and Virginia.
“This partnership with Compatriot represents a shared vision to establish Silverstone as a major player in the seniors housing industry and allows us to grow our platform to meet the strong demand for high-quality housing for one of the fastest growing demographics in the U.S.,” says Alberts.
The company is currently working through plans on the second phase of investments including additional sites in Northern Virginia and Montgomery County, Maryland. Silverstone’s development portfolio is valued in excess of $1 billion.