Marcus & Millichap Closes Sale of TX Assisted Living Community
- Apr 17, 2017
Marcus & Millichap closed the sale of Texas Star Assisted Living, located at 650 South Greenville Ave. in Allen, Texas. Marcus & Millichap’s First Vice President Investments Doug O’Toole, represented the buyer. Nathan Tune of Verus Advisors – Coldwell Banker Commercial, represented the seller.
“I am excited about the continued level of care and experience that the new owner is going to bring for the residents,” said Tune. “Texas Star will continue to be one of the best options for seniors in Allen, Texas.”
The 87-unit, 95-bed assisted living and memory care community offers studio, one- and two-bedroom apartments ranging from 365 to 864 square feet. Amenities include a spacious lobby and common room areas, a landscaped interior courtyard, outdoor patio, outside walking paths, a formal private dining room, a Bistro Cafe, internet access from all suites, a gathering room, library, exercise room and full-service salon and spa. Care services include weekly housekeeping, personal laundry and linens, three meals, personal assistance, scheduled transportation, group activities and classes and full-time nursing and staff care.
“Texas Star is a state-of-the-art facility that opened in March of last year,” said O’Toole. “The 65 assisted living units and the 22 memory care units were in a lease-up stage and sold to an out-of-state buyer for all cash.”
Images courtesy of Texas Star Assisted Living