Austin-Area Nursing Community Changes Hands
- Jan 26, 2018
Meridian Realty Advisors has sold Park Manor at Bee Cave, a 140-unit post-acute skilled nursing community in Bee Cave, Texas. The HFF investment advisory team that represented the seller included Senior Director David Fasano and Managing Directors Ryan Maconachy and Chad Lavender.
The property is located at 14058 Bee Cave Pkwy., along State Highway 71 and next to the Falconhead Golf Club. Hill Country Galleria is a three-minute drive away, while Baylor Scott & White Medical Center Lakeway, a 106-bed hospital, is situated four miles from the community.
Park Manor at Bee Cave, the only nursing facility within a four-mile radius, incorporates advanced technologies and specialized resources for patients needing intravenous therapy, physical therapy, speech therapy or pulmonary care. Out of the 27,000 people living in the area, 15 percent are older than 65, earning an annual average household income of $160,000.
Last month, HFF arranged the sale and financing of a similar property—a 330-unit Class A+ senior housing community in Sun City West, Ariz.
Image courtesy of HFF