Nick Stengle Of Brookdale Senior Living Acquires 244-Unit Senior Housing In Houston For $23.4M

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.