Greystone Real Estate Advisors Closes Sale of Texas Senior Living Portfolio
NEW YORK–Greystone Real Estate Advisors announced the sale of the Grand Brook Portfolio, which included three Class A memory care communities (114 units) in the Dallas-Fort Worth metroplex, on January 17, 2018. Invesque Inc. (TSX:IVQ.u) purchased the communities from an institutional private equity group. Cody Tremper and Mike Garbers of Greystone represented the seller in the transaction.
Developed between 2004 and 2006, the Grand Brook Portfolio communities are located in Garland, Grapevine, and McKinney, TX—regions marked by high income levels and strong future demographic trends. The 65+ population within each property’s primary market area is forecast to increase at a pace far above the national growth rate.
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, assisted living, memory care, and skilled nursing facilities.