Greystone’s giant deal

Greystone Real Estate Advisors certainly ended May with a bang, closing the largest transaction of the month at a value of $210 million, or $202,117 per unit. Involving seven senior living communities in Texas and one in Oklahoma City, the sold portfolio was owned by Harrison Street Real Estate Capital and Bridgewood Property Company. Built between 1989 and 2000, it included 1,039 total units, with two independent living communities, three independent/assisted living communities and three that included independent living, assisted living and memory care services. Texas-based Cardinal Bay was the buyer, which will retain Retirement Center Management as operator. Cody Tremper of Greystone led the way in the sale.

 

 

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