A private equity group divested its struggling, standalone memory care community in Plano, Texas, hiring Jeff Binder and Matthew Alley of Senior Living Investment Brokerage to handle the deal. Built in 1996 and remodeled in 2013, the community has 32 beds in 20 units. Occupancy was low, at 41% based on beds, and the community was not profitable for some time.
A private investment group based in Texas emerged as the buyer, having switched from a development focus to acquisitions in light of the rising construction costs. The purchase price was not disclosed.
