Daniel Morris of Plains Commercial announced the sale of a memory care community in Texarkana, Texas, allowing the seller to exit the memory care business in the process. Built in 2010, the community is licensed for 40 beds and has a high-quality physical plant. However, there was opportunity for upside (occupancy was just above 50%) through management changes and further lease-up. So, the seller chose a regional assisted living/memory care operator as the buyer. The purchase price was not disclosed.
Plains Commercial Closes Texarkana Transaction
