Four U.S. Memory Care communities – including those in Colleyville and Plano – have been sold, with an unnamed investor purchasing the portfolio.
Cody Tremper and Mike Garbers of Greystone Real Estate Advisors represented the seller in the transaction.
Each assisted-living community features 70 memory care units and 75 beds, with the portfolio rounded out by properties in Cedar Park north of Austin and Houston. Each community features about 60,000 square feet of space on about 4.7 total acres of land.
Sagora Senior Living of Fort Worth will operate the Colleyville property, with Silverado assuming management of the Cedar Park, Houston and Plano communities.
“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, U.S. Memory Care, commenting in a news release.