September 11, 2018
Capital Square 1031 acquired Village Green Alzheimer’s Care Home, a 16-bed, 10,000-square-foot memory care facility in the Houston suburb of Spring, TX. The Class A facility at 19065 Champion Forest Dr. was completed in June 2018, and came with a 15-year net lease to Village Green Alzheimer’s Care Home.
Matt Bear with Bear Real Estate Advisors represented the buyer in its negotiations with the private sellers, which were represented by EDGE Realty Capital Markets. The sales price was not disclosed. The asking price was $3.6 million, with a 6.5% cap rate. The facility was acquired for cash, on behalf of a Delaware Statutory Trust offering.
“The property’s strong location coupled with the current growing demand for assisted living and memory care facilities in the country, position it as an opportunity for capital appreciation and a valuable addition to our national real estate portfolio,” said Capital Square 1031’s Louis Rogers.
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