SLIB Negotiates Sale of 40-Unit Community Near Austin

PFLUGERVILLE, Texas — Senior Living Investment Brokerage has arranged the sale of Heatherwilde Assisted Living, located in the Austin suburb of Pflugerville.

A local partnership looking to exit seniors housing sold the property to a Fort Worth-based owner-operator. The price was not disclosed.

Heatherwilde  features 40 units in approximately 24,000 square feet on a 2.6-acre lot. The community is highly visible in the surrounding neighborhood, as it is adjacent to Pflugerville Health Care Center and Pflugerville Middle School.

Matthew Alley of Senior Living Investment Brokerage arranged the sale as a value-add opportunity for the buyer.

“The transaction was scheduled to close at the end of 2018, but the operator (Senior Care Centers) filed for bankruptcy during due diligence,” says Alley. “This extended the time period to close by over four months. Both the buyer and seller were patient throughout the court approval process to ultimately get to a sale.”