Greystone Real Estate Advisors Closes Sale of Seniors Housing Community in Texas
Greystone Real Estate Advisors closed the sale of Spring Creek Village. SRP Medical sold the seniors housing property in September to a joint venture between Harrison Street Real Estate Capital and Bridgewood Property Company. Going forward, the property will be managed by Retirement Center Management.
Spring Creek Village is a newly-constructed 108-unit assisted living and memory care community. Built in 2013, the property offers 60 assisted living units and 48 memory care units serving the Spring, Texas community. Spring Creek Village is a Class A property offering an abundance of amenities including chef-prepared meals; housekeeping; linen services; transportation; 24/7 nursing services; emergency call system; salon; organized activities; game room; library; arts and crafts; theater; chapel; and fitness center. Located north of Houston near The Woodlands and just minutes from five major hospitals and ancillary medical services as well as retail, dining, and entertainment, Spring Creek Village offers an ideal setting for seniors and visitors to the region.
Cody Tremper, a Managing Director of Greystone Real Estate Advisors, led the sale for SRP Medical. “The quality of the Spring Creek Village property should serve as an example for new construction in the assisted living market,” said Tremper. “The amount of interest in this property is certainly a testament to its location and amenities.”
The Greystone Real Estate Advisors team leverages its extensive experience in providing expertise on the disposition or acquisition of seniors housing, including age-restricted communities, independent living, memory care and assisted living facilities.