Buckner Retirement Services, Inc., a not-for-profit senior living provider, acquired a CCRC in Texas. This will be the seventh senior living community owned/operated by Buckner in the state. The seller, Lifespace Communities Inc., acquired the community in 2019 and has operated it since. Lifespace was focused on finding a buyer with similar values.
The Stayton at Museum Way is an 11-story CCRC in Fort Worth. It comprises 188 independent living, 46 skilled nursing, 42 assisted living and 20 memory care units. The anticipated closing is June 2024, however, it may occur as soon as late April. The transaction is subject to regulatory approvals and customary closing conditions. The transaction provides for the full assumption by Buckner of all resident agreements and entrance fee refund obligations, and a significant reduction in The Stayton’s bond indebtedness.
