LifeCare Sells Texas Luxury Senior Asset

LifeCare has sold The Blake at Tyler, a 115-unit luxury senior community in Tyler, Texas, to a publicly traded REIT. Blake Management Group will continue to oversee the property’s day-to-day operations.

LifeCare developed the property and brought it online in 2024. The project team also included Arrive Architecture and Ridgemont Commercial Construction.

Located at 2498 Three Lakes Parkway, the property is part of The Crossing, a multi-use development also including residential, office and retail spaces. There are multiple medical centers nearby and a Walgreens within walking distance. Downtown Tyler is 7 miles north.

The community features 72 assisted living and 43 memory care units. The assisted living component comprises studio, one- and two-bedroom layouts ranging from 312 to 968 square feet, while memory care studios measure 308 and 400 square feet.

Shared amenities include a salon, a chapel, a theater, a computer room and several courtyards. Services provided encompass restaurant-style dining, on-site therapy, scheduled transportation, as well as daily and weekly housekeeping services, among others.

The senior housing sector has shown rebound in recent years, following the pandemic-era downturn. One of the clearest signs of this momentum is transaction volume, according to JLL’s 2026 Seniors Housing & Care Investor Survey. Deals totaled $24 billion last year, which was the highest level since 2015. Pricing also strengthened, with the average price per unit rising 29 percent year-over-year and surpassing $182,000 at the end of 2025.