$225M buy includes seven Texas senior living communities$225M buy includes seven Texas senior living communitieshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=35202014-07-27T22:21:00Z2014-07-28T00:00:00Z

TEXAS - Orlando-based CNL Healthcare Properties has acquired seven senior housing communities in Texas and one in Illinois from developer South Bay Partners, Ltd., for $187.2 million.

It is also expanding through a ninth community that will be developed through a joint venture between CNL and South Bay Partners.

The Texas facilities include:
•  Watercrest at Mansfield — Mansfield
•  Isle at Watercrest — Mansfield
•  Watercrest at Bryan — Bryan
•  Watercrest — Bryan
•  Isle at Cedar Ridge — Cedar Ridge
•  Legacy Ranch Alzheimer’s Special Care Center — Midland
•  The Springs Alzheimer’s Special Care Center — San Angelo

CNL will also develop a $38.2 million independent living community in Katy through a joint venture with South Bay Partners. Through the acquisitions and development, the REIT is investing a total of $225 million in the sector.

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