A new group of institutional grade independent living facilities in the Dallas and Fort Worth Texas markets are for sale according to Marcus & Millichap Real Estate Investment Services, who was chosen to sell the properties.
The properties are being offered on an open-bid basis.
“Now is an excellent time for seniors housing investors to add to their portfolios or for new investors to gain a foothold in the sector,” said Doug O’Toole, vice president of investments for Marcus & Millichap. “Nationally, the 65-year-old-plus age group is projected to expand by almost 18 million residents over the next 10 years and account for 17 percent of the U.S. population, up from an estimated 13 percent in 2011.”
The portfolio has more than 400 units and is spread out over two communities according to a statement. The North Dallas facility consists of approximately 232,000 square feet and was built in 2009 on 14.5 acres.
The Fort Worth facility consists of approximately 197,000 square feet and was built in 2007 on 7.4 acres.
Written by John Yedinak