JDI Realty And Stellar Senior Living Acquire 98-Unit Senior Housing In Richmond, Texas

The property involved in this transaction is a senior housing facility known as Clayton Oaks Living, located at 21175 Southwest Freeway, Richmond, Texas. This asset encompasses 98 units designed for assisted living and memory care. The property was constructed in 2015 and is noted to have maintained an occupancy rate of over 90% at the time of sale.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: Not disclosed
• Units: 98
• Address: 21175 Southwest Freeway
• Market: Richmond
• Buyer: Jeff Aeder - JDI Realty & Evrett Benton - Stellar Senior Living
• Seller: James Gray - Bridgewood Property Company
• Brokers: Cody Tremper, Dave Fasano, Mike Garbers & Ross Sanders - Berkadia

The transaction was facilitated by Berkadia, which arranged the sale on behalf of the seller, Bridgewood Property Company. The newly formed joint venture between JDI Realty and Stellar Senior Living not only acquired the property but also took over its existing HUD loan as part of the deal.