Greystone gets it done

We’ve written plenty on the memory care (and assisted living) development boom going on in Texas, especially in the markets of Houston, Dallas-Fort Worth and San Antonio. And we have wondered how, if everyone and their neighbor is building memory care in those areas, the communities would fill up. That will be the challenge for a private investor who just bought four recently-built stand-alone memory care communities previously owned and operated by U.S. Memory Care. Located in Cedar Park (Austin MSA), Houston, Plano (Dallas MSA) and Colleyville (also Dallas), these communities were built between 2013 and 2015 with 70 units and 75 beds. U.S. Memory Care also included a beauty/barber shop, theater, music hall and courtyards in each property. The buyer will have Silverado take over management for the Cedar Park, Houston and Plano communities, while Sagora Senior Living will operate the Colleyville one, which will be its first stand-alone MC community. Cody Tremper and Mike Garbers of Greystone represented the seller in the transaction.

 

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