Sunrise Senior Living recently sold a 1.6 acre tract of land in the Oak Lawn Neighborhood of Dallas, Texas to Belmont Village Senior Living. Belmont Senior Living, based in Houston, Texas and a subsidiary of GE Capital, purchased the property in January and is in the design phase of the project and expects to break ground on the development in the fall. Sunrise had planned on building a 23 story condominium building with 140 units on the property but canceled those plans last year and placed the property on the market. The location of the project is in a high end residential section in Dallas that has given rise to condominiums and townhouses within the last 10 years to provide a more urban setting that the rest of the Dallas-Fort Worth metroplex. For more information on this transaction, click here.
