Greystone Real Estate Advisors Close Sale of Four-Property US Memory Care Portfolio in Texas
December 16, 2016
Greystone Real Estate Advisors announced it closed the sale of a four-property portfolio of US Memory Care communities in Texas. An investor purchased the seniors housing properties from US Memory Care on December 15. Cody Tremper and Mike Garbers of Greystone represented the seller in the transaction.
The four communities, each with 70 memory care units and 75 beds, are located in Cedar Park, Colleyville, Plano, and Houston. The properties of this Class A+ memory care portfolio were constructed between 2013 and 2015. Each community features approximately 60,000 square feet of space on roughly 4.7 total acres of land. Silverado will take over management of the Cedar Park, Houston, and Plano communities, while Sagora Senior Living will operate the Colleyville property.
“Greystone canvassed the market to find the best buyer for this portfolio and connected us with best-in-class operators in Sagora and Silverado, in order to continue to provide the high quality service that our residents have come to expect,” said Jeff Jones, Chairman of US Memory Care.
The Greystone Real Estate Advisors team leverages its extensive experience in providing expertise on the disposition or acquisition of seniors housing, including age-restricted communities, independent living, assisted living, memory care, and skilled nursing facilities.