This month, Caddis Partners began construction on its fifth and sixth Heartis-branded communities in Texas. Heartis Cypress and Heartis Clear Lake—both located in the Houston area and both 78-unit communities (54 assisted living units and 24 memory care beds)—are expected to open in early 2015.
Caddis, a Dallas-based real estate development, management, and investment firm operating strictly within the health-care sector, announced in June 2013 that it would invest $100 million in the senior living segment over 24 months. At that time, too, construction had just begun on Heartis Cleburne, a 96-unit assisted living and memory care community south of Fort Worth and the company’s first seniors community being developed under the company’s newly announced “Heartis” brand. One month later, construction began on Heartis Eagle Mountain in north Fort Worth, also a 96-unit assisted living and memory care community.
Development of Heartis Conroe, a 50-bed memory care community north of Houston, was underway before the official launch of the new brand; that community opened in late summer 2013. And in November 2013, construction began on Heartis Amarillo, an 89-unit community (54 assisted living units and 35 memory care beds).
Caddis continues to move “full speed ahead” to develop Heartis communities, as Executive Vice President and Partner Matt Maddox promised when the brand launched. The company expects to open a total of 10 or 12 Heartis communities (390 units) in select markets across Texas by summer 2015. So far, six projects are either open or already under construction.
Heartis communities are developed and owned by affiliates of Caddis Partners. Good Neighbor Care of Eugene, Oregon, provides management services.
