CA Senior Living Completes Acquisition of 306-Unit Senior Housing Portfolio in Suburban DallasDecember 22, 2017
CA Senior Living LLC, the senior housing investment and development division of Chicago-based CA Ventures, today announced it has acquired three senior housing communities in the Dallas suburbs of Denton, Plano and McKinney. An affiliate of CA Senior Living purchased the three communities from Dallas-based SRP Medical, which also developed the properties.
The portfolio, which will continue to be managed by Carlsbad, Calif.-based Integral Senior Living, comprises the following properties:
- The Village Assisted Living and Memory Care – 1919 Brinker Road, Denton: 75 assisted living apartments in studio, one- and two-bedroom layouts, as well as 32 studio units for residents requiring memory care; completed in fall 2016
- The Village at Mapleshade – 3670 Mapleshade Lane, Plano: 92 assisted living units in a mix of studio, one- and two-bedroom floor plans; delivered in fall 2015
- The Village at Stonebridge – 3300 S. Stonebridge Drive, McKinney: 75 assisted living apartments in studio, one- and two-bedroom layouts, as well as 32 memory care studios; opened in fall 2014
“The Texas properties have demonstrated strong leasing activity, which made them attractive as we were looking for opportunities to enter the Dallas market,” said Ben Burke, president of CA Senior Living. “Even as new supply is added, the long-term outlook for the sector is strong as rising single-family home prices – now at an all-time high in the Dallas area – prompt many seniors to sell. These communities are designed with large residences and a host of common amenities that attract a broad spectrum of residents seeking top-notch independent and assisted living options as they leave homeownership behind.”
The portfolio’s assisted living residences feature kitchenettes with granite countertops and full-size, stainless steel refrigerators; spacious bathrooms with walk-in showers; individually controlled thermostats; walk-in closets; and private patios and balconies in select units. Shared amenities at each property include a bar and lounge; private dining room for hosting family and friends; theater/media room; card and game room; fitness center; art studio and craft workshop; salon; and internet café and bistro.
The Denton and McKinney communities also offer memory care activities to support residents with Alzheimer’s and other forms of dementia. Programming includes guided outdoor exploration and purposeful outings as well as daily life activities that engage residents through their life history.
“The level of amenities and personalized care provided at these communities is in line with the rest of our portfolio, whose growth has been driven in part by our relationships with leading operators like Integral Senior Living,” said Burke. “Whether we acquire an existing community or develop a new one, we ensure that we consistently deliver on the high standards of service that differentiate a CA property from others in the market.”
The Texas properties expand CA Senior Living’s portfolio to 14 communities currently operating or under construction totaling approximately 1,700 units.
About CA Ventures/CA Senior Living:
CA Ventures LLC is a Chicago-based real estate investment holding company whose international portfolio includes $6.7 billion in assets throughout the U.S. and Latin America. While initially focused on student housing, CA Ventures has since diversified into other sectors, including office, senior living, multifamily and hospitality. In addition to development and renovation, the firm specializes in institutional joint ventures, value-add investing, equity and debt sourcing, and asset management services. CA Ventures serves as the holding company for the CA family of companies, including CA Student Living, CA Office / Vanderbilt Partners, CA Senior Living, CA Residential, CA International, CA Hospitality and CA Asset Services. For more information, visit www.ca-ventures.com.