Exclusive: Greystar Buys Houston Senior Housing Asset
A $26.4 million Freddie Mac loan financed this deal.
Greystar has acquired Everleigh Katy, a 250-unit, 55+ active adult senior community in Katy, Texas, according to Yardi Matrix information. Pensam Capital sold the property, which was previously known as The Grand Parkway Senior Apartments.
CBRE Capital Markets originated a $26.4 million Freddie Mac loan for the transaction.
Located at 22777 Franz Road in a Difficult Development Area, the three-story building came online in 2009 on roughly 12 acres. It is just off Texas State Highway 99 and Highway 90, providing easy access to downtown Houston 30 miles east. There are multiple medical centers in the area, including Clinica Medical Center 5 miles southwest.
READ ALSO: What’s Driving Senior Housing’s Recovery
Everleigh Katy’s unit mix features one- and two-bedroom floorplans ranging from 729 to 1,075 square feet. All apartments feature washers/dryers, microwaves, private balconies/patios, pantries and breakfast bars.
Shared amenities at the pet-friendly community comprise a fitness center, business center, clubhouse, swimming pool, spa, movie theater, craft room, chapel and dog park. In addition, the property has 375 parking spaces.
There are several other age-restricted properties within a 3-mile radius of Everleigh Katy, including senior independent living communities. A few examples:
- The 218-unit Lofts at Katy Ranch at 24922 Katy Ranch Road.
- The 150-unit Villas of Park Grove at 600 Park Grove Drive.
Occupancy in active adult communities rises
Senior housing occupancy stood at 89.9 percent in the second quarter of 2026, the most recent data from NIC shows. Active adult communities were 92.6 percent occupied at the end of June, marking a 1.4 percent increase from Q1.
Out of the top 15 active adult community metros, Los Angeles and Virginia Beach, Va., posted the highest second-quarter rates, both at 96.2 percent, followed by Buffalo, N.Y., at 95.4 percent. Austin, Texas, (88.0 percent) and Phoenix (88.1 percent) had the lowest occupancy rates but showed an 1.1 and 3.0 percentage increase, respectively, quarter-over-quarter. Meanwhile, Houston surpassed the 90 percent threshold at roughly 92 percent.
