Newmark Arranges Recapitalization of 1,546-Unit Seniors Housing Portfolio in Dallas, Houston

DALLAS AND HOUSTON — Newmark has arranged the recapitalization of a portfolio of five seniors housing properties totaling 1,546 units that are located throughout the Dallas and Houston areas. The properties include: The Tradition-Clearfork in Fort Worth, The Tradition-Lovers Lane and The Tradition-Prestonwood in Dallas, and The Tradition-Woodway and The Tradition-Buffalo Speedway in Houston. The properties offer independent living, assisted living and memory care services and had a combined occupancy rate of about 96 percent at the time of the recapitalization. Chad Lavender, Ryan Maconachy, Sarah Anderson, Mills Poynor and Ben McElroy of Newmark worked on behalf of the owner, Tradition Senior Living, to secure a joint venture equity investment from Kayne Anderson Real Estate. Newmark also arranged new financing for the portfolio.