LifeCare Properties Completes the Sale of The Blake at New Braunfels to Inspired Healthcare Capital

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Jul 09, 2024, 16:50 ET

NEW BRAUNFELS, Texas, July 9, 2024 /PRNewswire/ -- LifeCare Properties (LCP), a Biloxi, Mississippi-based developer of senior living communities, is pleased to announce the sale of The Blake at New Braunfels to Scottsdale, Arizona-based Inspired Healthcare Capital. The transaction was expertly facilitated by Cody Tremper and his team at Berkadia Seniors Housing & Healthcare.

The Blake at New Braunfels, a 112-unit assisted living and memory care community, represents premier senior living in the heart of Texas Hill Country. Built in 2021, this Class A property features 71 assisted living units and 41 memory care units, along with exceptional amenities such as a salon, a theater, and an on-site physical therapy clinic. Its strategic location near Resolute Baptist Hospital further underscores the community's commitment to providing accessible, top-tier healthcare.

Blake Management Group, known for its operational excellence in senior living management, will continue to operate The Blake under the new ownership, ensuring that residents experience minimal disruption and maintain the quality of life they are accustomed to.

"We developed The Blake with a vision of excellence in senior living. We are confident that Inspired Healthcare Capital will advance this vision, ensuring the highest standards of service and operational continuity," stated Brooks Holstein, LCP founder and managing member.

With the recent completion of The Blake at Tyler and the ongoing success of The Blake at Waco—both operated by Blake Management Group—LCP has leveraged its deep market insights and developed its senior living portfolio during historic economically challenging times. The sale of The Blake at New Braunfels is a strategic move that allows LCP to capitalize on new development opportunities in response to the increasing demand driven by the "Silver Tsunami." By partnering with astute capital investors and maintaining Blake Management Group's operational excellence, LifeCare Properties aims to enhance its portfolio's stability and growth, ensuring robust investment returns in a sector that is both essential and expanding.

About LifeCare Properties:

LifeCare Properties, LLC (LCP), is a commercial real estate development company with a focus on developing institutional grade senior living communities. Utilizing extensive experience in market selection, as well as relationships with national and regional contract partners, LCP has consistently developed successful communities. LCP was founded on the core values of integrity, knowledge, accountability, and results. Its parent company, COMVEST Properties, LLC, is a family-owned multi-generational development and investment company where these values have enabled growth across several real estate categories from hotels, to restaurants, to retail, and now senior living.

For additional information on LifeCare Properties, please visit www.lifecarepropertiesllc.com.

SOURCE LifeCare Properties