Cornerstone Senior Living Expands in TX
- Apr 26, 2017
Greystone Real Estate Advisors has announced the sale of Three Forks of Forney, a Class A assisted living and memory care community in Forney, Texas. Cornerstone Senior Living acquired the property from Healthcap Partners for $12.5 million. Cody Tremper and Mike Garbers, managing directors, represented the seller in the transaction.
Located at 335 S. FM 548, 20 miles east of downtown Dallas, the 60-unit community features 72 beds. The 46,959-square-foot property sits on 13 acres of land, giving Cornerstone Senior Living the possibility to expand the community with additional wings of residential units. The company already owns communities in California and Arizona.
“We are excited to continue our growth through another strategic acquisition in Texas. This is the eighth facility we have acquired in the last 18 months,” said Cornerstone Senior Living President Greg Boemer in a prepared statement.
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