Updated Jul 17, 2026
Nick Stengle Of Brookdale Senior Living Acquires 244-Unit Senior Housing In Houston For $23.4M
2929 Post Oak Boulevard
$23,400,000
Units
244
Asset Type
Senior Housing
Closing
Jul 16, 2026
About this deal
AI
The senior housing property located at 2929 Post Oak Boulevard in Houston, TX, consists of 244 units and was sold for $23,400,000. The price per unit amounts to $95,902. This facility is part of the senior living community sector, catering to the growing demand for senior housing in urban markets.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $23,400,000
- Address: 2929 Post Oak Boulevard
- Market: Houston, TX
- Units: 244
- Price Per Unit: $95,902
- Buyer: Nick Stengle - Brookdale Senior Living
Nick Stengle, representing Brookdale Senior Living, led the acquisition of the Brookdale Galleria senior living community, which was funded through cash on hand and the company's expanded line of credit. This strategic acquisition aims to enhance Brookdale's portfolio in a significant market and allows for potential income growth through future upgrades and operational efficiencies.
On the Map
$23,400,000
Senior Housing
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Houston Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93