February 27, 2018
Invesque Inc. acquired three memory care properties in the Dallas-Fort Worth area. The Toronto-headquartered buyer struck the $21.5 million deal with LaSalle Group of Irving, TX for the 114-unit Grand Brook portfolio, which is in Garland, Grapevine and McKinney, TX. Cody Tremper and Mike Garbers of Greystone represented the seller in the transaction.
The assets delivered between 2004-2006, and are at:
- 5600 N. Shiloh Rd., Garland
- 175 Plateau Dr., McKinney
- 2501 Heritage Ave., Grapevine
According to a release from Invesque (formerly Main Street Health Investments Inc.), the three properties are leased to Constant Care Management Co. Constant Care, based in Plano, entered into an absolute net master lease agreement with an initial 15-year term and two five-year extension options. Additionally, Invesque received a first right to fund and acquire the next three senior housing projects developed and operated by Constant Care.
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