Granite sells Austin-area senior housing properties for $23M

GEORGETOWN, PFLUGERVILLE – Granite Investment Group has sold two senior housing properties for $23.4 million. The sale included Georgetown’s Park Place Care Center and Assisted Living (PPCCAL) and the Pflugerville Care Center (PCC).

PPCCAL was built in 1997 on nearly seven acres and includes a 116-bed nursing facility as well as a 48-bed assisted-living facility.

It offers 24-hour skilled nursing care, short- and long-term rehabilitation, common areas, private and semi-private rooms, activity directors, spiritual care and an order-by-menu dining program.

An affiliate of Granite Investment Group originally purchased the property in 2007 for $9.2 million.

PCC is a 111-bed skilled nursing facility built in 1991 on 3.2 acres. The facility provides residents with short- and long-term rehabilitation care.

An affiliate of Granite Investment Group originally purchased PCC property in 2005 for $9.1 million.