A 189-unit senior living community in Longview has changed ownership.
MedCore Partners of Dallas and The National Realty Group of Houston purchased Parkview at Hollybrook from Austin-based Thrive FP. Terms of the transaction were not disclosed.
The group said it intends to develop land adjacent to the campus to add independent living cottages by early 2021. Currently, the senior living campus includes 126 independent living, 41 assisted living and 22 memory care residences.
“This acquisition is highly complementary to MedCore’s existing portfolio,” MedCore partner Michael Graham said in a statement. “We look forward to building on the strong lease-up momentum at Parkview and seeing this project through to stabilization. It is an honor to serve the Longview community in such a meaningful way.”
The activity would represent a turnaround for the development, which was in bankruptcy under previous owners.
Tiffany Cobern, director of senior living operations for MedCore, said the 189-total unit count differs from previous references to numbers of units at Parkview because some assisted-living and memory-care units have shared suites with more than one person living in them.
“That is common in the senior living industry,” she said.
The previous owner said after Parkview was completed in May 2018, it was licensed for 88 assisted living and 126 independent living units.
Changes under new ownership include a new management team and plans for the cottages, Cobern said.
The new management company is Integral Senior Living of Carlsbad, California. It also manages another MedCore/TNRG property in Cypress and will manage three others under development or construction for the group.
Parkview has an 80% occupancy rate and 40 employees, Cobern said. She said the addition of cottages will depend on soon Parkview fills vacant units.
In addition to outdoor spaces, the amenities at the community near Longview Regional Medical Center include an outdoor pool and patio area, bocce ball court, dining venues for independent living, assisted living and memory care, a bistro/bar venue, computer lounge, fitness center, library and theater.