Heavenrich Announces Sale Of Another Dallas Skilled Nursing Facility


Chicago, IL, July 1, 2019 –Heavenrich & Company is pleased to announce the sale of The Plaza at Richardson, a 124-bed skilled nursing and memory care facility. Located in Richardson, an affluent, inner suburb of Dallas, Texas, The Plaza at Richardson recently converted a wing of the facility to skilled memory care and currently operates with 104 beds. The Plaza at Richardson was built in 2006 with improvements in 2010. Quality mix was 16% and occupancy 83% at the time of the sale.

Heavenrich & Company managed the successful transaction on behalf of the seller, StoneGate Senior Living and was hired for its expertise and relationships in the Texas market. Heavenrich received multiple bids on The Plaza at Richardson and StoneGate ultimately selected O&M Investments, a private equity firm focused on skilled nursing. The purchase price was $6,000,000 or about $58,000 per operational bed.

Heavenrich also recently completed the sale of Lakewest Rehabilitation and Skilled Care, a 118-bed skilled nursing facility in Dallas on behalf of StoneGate.

Celebrating 25 years in business, Heavenrich & Company is one of the first dedicated, boutique senior housing investment brokerage firms in the country. The firm exclusively brokers the sale of public and privately-held independent living, assisted living, memory care and skilled nursing companies. They are based in Chicago with offices in Denver.

For more information, contact:
Adam Heavenrich, Managing Director
Heavenrich & Company, Inc.
203 N. LaSalle Street, Suite 2100, Chicago, IL 60601
office: 312.558.1590 / mobile: 312.590.1590 /email: adam@heavenrich.com

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