DALLAS, TX—JLL Capital Markets announced earlier this week that it has closed the sale of Quail Park of Granbury, a 75-unit independent living, assisted living and memory care community in Granbury, Texas, which is a growing suburb of Dallas-Fort Worth.
JLL represented the seller, Living Care Lifestyles, in the sale to Lloyd Jones LLC. Lloyd Jones Senior Living will operate the community going forward, under the name AVIVA Granbury. The sales price was not disclosed.
The community is comprised of two buildings, one offering independent living (41 units) and assisted living (15 units), and one dedicated to memory care (19 units). The community was in excess of 95% occupancy at closing. Units feature faux hardwood floors, full-size kitchens in independent living units and private patios. Community amenities include landscaped courtyards, a large auditorium, a bistro, dining rooms, and a variety of lounges and gathering areas.
The property has a nearly 30-acre site along Paluxy Highway, 40 miles southwest of downtown Fort Worth. Of the 30 acres, approximately 20 acres is available for future development. This was appealing to the buyer, who has plans to develop the 20 acres in the future.
The city of Granbury has become a popular destination for retirees, offering residents a full living experience with access to numerous dining and retail options offered in the historic downtown. The 65+ population within a five-mile radius of the property constitutes more than 25% of the total population, outpacing the national rate of 17%.