July 13, 2020
Dallas-based MedCore Partners and Houston-based The National Realty Group, together with BMO Harris Bank and Locust Point Capital, acquired a 582-unit seniors housing portfolio. The independent living, assisted living and memory care assets are spread across seven markets in Washington and California.
The communities involved in this initial acquisition include five assets in Washington State:
– The Village in Tacoma with 136 units (pictured),
– Discovery Memory Care in Sequim with 55 units,
– The Sequoia in Olympia with 92 units,
– Cooks Hill Manor in Centralia with 72 units, and
– Birchview Memory Care in Sedro-Wooley with 60 units.
The California-based assets include Del Obispo Terrace in San Juan Capistrano with 91 units and the 76-unit Westminster Terrace in Westminster.
MedCore will retain Tacoma-based Senior Services of America as the manager of operations and deploy more than $13 million of capital expenditures to improve the facilities.
For comments, questions or concerns, please contact Dennis Kaiser