Caddis just recapitalized five of its brand-new seniors housing communities in Texas. We’ve written about the “Heartis” brand (and Caddis-developed) before, which continues to grow in a number of Texas markets. The five properties just recapitalized are located in Amarillo, Cleburne (Fort Worth MSA), Conroe (Houston MSA), Cypress (Houston), and Fort Worth, a number of markets we have been keeping our eye on for overdevelopment. Nevertheless, this 352-unit portfolio must be performing well under the management of Frontier Management. Grant Saunders and Jay Jordan of KeyBank Real Estate Capital originated and underwrote the $62 million term loan.