Fountainview Estates in Longview will be renamed Heartis Longview as part of the assisted living and memory care community’s recent acquisition by Caddis, a Dallas-based health care and real estate firm.
The 74-unit property is at 1408 Lago Trail in northwest Longview east of Dallas.
Frontier Management, an Oregon-based senior living operator, assumed management duties upon closing with no major changes in local staffing or leadership.
“Heartis Longview fits with Caddis’ ongoing practice of acquiring and developing communities that meet our high standards for the Heartis senior living brand,” said Caddis CEO Jason Signor in a news release.
The acquisition brings Caddis its fifth community with Frontier as its management partner. Brokering the transaction was Mike Pardoll, a senior housing specialist with the Charlotte, N.C. office of Marcus & Millichap Real Estate Investment Services.
“Heartis Longview is in a prime area of Longview with good demographics, a large senior population and strong home prices,” says Barrett Freeman, director of acquisitions with Caddis.
“In today’s competitive senior housing acquisitions market, we were pleased to close on this attractive, Class A property which fits perfectly into our Heartis brand and also meets our investment objectives,” Freeman said.
The Heartis Longview assisted living apartments feature a spacious design, large kitchenettes and individually controlled thermostats, and are pre-wired for high-speed Internet.
Among the properties amenities are a waterfront outdoor terrace, waterfront community dining room and spacious game room with a waterfront view; a Majestic Theater; private dining room; beauty salon and barber shop; daily specialized activities; licensed 24-hour nursing services; and 24-hour emergency call system.
Caddis launched its senior living brand, Heartis, in early 2013. In addition to Longview, the company has facilities open or under construction in Fort Worth, Arlington, Cleburne, Waco, San Antonio and other Texas cities.