NEW YORK, Dec. 19, 2016 (GLOBE NEWSWIRE) -- 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.
About Greystone Real Estate Advisors, Inc.
Greystone Real Estate Advisors, Inc. provides services in sales and acquisitions of seniors housing property types including independent living, assisted living, memory care and skilled nursing as well as affordable and multifamily properties. The team offers a full spectrum of advisory services including debt, equity, acquisition, and investment sales to funds, private equity groups, regional and national operators, not-for-profit owners and healthcare REITs.
Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA and Fannie Mae lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.
About Sagora Senior Living
Sagora Senior Living is a Fort Worth-based company operating 26 communities in four states including Florida, Alabama, Oklahoma and Texas. Sagora’s family of companies were established in 1991 and have become one of the nation’s top 50 senior housing operators with a mission to provide an enriching lifestyle and improved quality of life to seniors embarking upon retirement or in need of comprehensive care. Sagora operates newly constructed and acquired communities specializing in independent living, assisted living, respite and memory care providing first-class services, programs and amenities with a “Resident First” philosophy. For more information, contact 817-446-4796 or visit www.sagora.com.
Silverado was founded in 1996 with the goal of enriching the lives of those with memory loss by changing how the world cares for people with cognitive decline. Establishing this mindset as the foundation allows Silverado to operate in a way that provides clients, residents and patients with utmost dignity, freedom, respect and quality of life. Silverado has grown to become a nationally recognized provider of home care, memory care assisted living and hospice services. With 52 locations, the company delivers world-class care across seven states, including Arizona, California, Illinois, Texas, Utah, Washington and Wisconsin. Learn more at www.silveradocare.com or call 866-522-8125.
PRESS CONTACT: Karen Marotta Greystone 212-896-9149 Karen.Marotta@Greyco.com