Plains Commercial Real Estate is pleased to exclusively offer for sale Rambling Oaks Courtyard in Highland Village (the “facility”). The facility has a high quality physical plant and offers investors a cash flowing asset with significant upside through further levels of care. The facility is two (2) buildings that are interconnected, one operating as a total private pay assisted living (AL) facility and the other as a skilled nursing (SN) community focused on rehabilitation services and private pay residents. The SN was leased to TGR Healthcare (TGR), in April of 2020. TGR is a Texas based skilled nursing operator with a total of 9 buildings across its portfolio. The facility offers investors a stabilized asset with strong cash flow in place and significant upside in place through further lease-up and level of care adjustment through the assisted living operations.
- — Class B dual care facility offering a continuum of care with assisted living and skilled nursing beds
- — Licensed for 79 AL beds with 69 AL units
- — Licensed for 70 Medicare/private pay beds and 6 Medicaid beds with 46 SNF units
- — Long term NNN lease in place with a strong Texas based SNF operator
- — The facility offers in place cash flow with additional upside through further levels of care adjustments
- — Area retailers include HEB, Tom Thumb, Walmart, Target, Walgreens, Lowes, Whole Foods & Bed Bath and Beyond