Propero Provides $26.7M in Equity for Seniors Housing Development Under Construction in Conroe

CONROE, TEXAS — Lancaster Pollard’s private equity program, Propero Seniors Housing Equity Fund, has provided $26.7 million to develop Woodhaven Village, a new seniors housing community in Conroe, about 40 miles north of Houston. A joint venture led by Paradigm Senior Living, the landowners and passive individual investors are developing the community, which will include 60 independent living units, 60 assisted living units and 24 memory care beds. The joint venture expects to complete construction in late 2016. Propero is a private equity fund established by Lancaster Pollard to invest in seniors housing properties through triple-net leases with experienced operators.

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