Seniors housing community in Dallas-Fort Worth suburb sold
JLL Capital Markets closed the sale of the 75-unit Quail Park of Granbury in Granbury, TX
DALLAS, September 12, 2022 – JLL Capital Markets announced today that it has closed the sale of Quail Park of Granbury, a 75-unit independent living, assisted living and memory care community in Granbury, Texas, a growing suburb of Dallas-Fort Worth.
JLL represented the seller, Living Care Lifestyles, in the sale to Lloyd Jones LLC. Lloyd Jones Senior Living will operate the community going forward, under the name AVIVA Granbury. The sales price was not disclosed.
The community is comprised of two buildings, one offering independent living (41 units) and assisted living (15 units) and one dedicated to memory care (19 units). The community was in excess of 95% occupancy at closing. Units feature faux hardwood floors, full-size kitchens in independent living units and private patios. Community amenities include landscaped courtyards, a large auditorium, a bistro, dining rooms, and a variety of lounges and gathering areas.
The property has a nearly 30-acre site along Paluxy Highway, 40 miles southwest of downtown Fort Worth. Of the 30 acres, approximately 20 acres is available for future development. This was appealing to the buyer, who has plans to develop the 20 acres in the future.
The City of Granbury has become a popular destination for retirees, offering residents a full living experience with access to numerous dining and retail options offered in the historic downtown. The 65+ population within a five-mile radius of the property constitutes more than 25% of the total population, outpacing the national rate of 17%.
The JLL Capital Markets team representing the seller was led by Managing Director Charles Bissell and Director Dean Ferris.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Living Care Lifestyles
Founded in 1999 and headquartered in Seattle, Living Care Lifestyles (LCL) is an integrated management, development, and owner of seniors housing. LCL currently owns and operates six senior communities and has two in design, development, or construction phases in the Western U.S. LCL’s service offering currently includes investment in seniors housing, development and renovation, and asset management services, as well as day-to-day operational management in senior living. Since 1999, LCL has acquired and/or developed 13 properties in five states.
About Lloyd Jones LLC
Lloyd Jones is a prominent real estate investment firm with over 40 years in the industry under the continuous direction of Chairman/CEO, Christopher Finlay. Based in Miami, the firm specializes in multifamily and senior housing investment, development, and management. Their portfolio of properties expands from the Southeast to the Mid-Atlantic, Mid-West, Southwest, and Northeast markets with growing interests in senior living communities throughout. To learn more about Lloyd Jones, visit www.lloydjonesllc.com