Heavenrich Announces Groundbreaking Of Memory Care Facility In Houston, Texas Area

Chicago, IL, October 28, 2013 –Heavenrich & Company announced the groundbreaking of a 94-bed memory care facility in the Cypresswoods area of Houston, Texas to be developed and operated by StoneGate Senior Living. The facility will be licensed both as assisted living and skilled nursing. The Cypresswoods project will be adjacent to StoneGate’s Villa Toscana skilled nursing and rehabilitation facility.

The $16 million, 68,484 square foot Cypresswoods facility will offer 26 private rooms, 20 two-bedroom suites, and 14 private rooms that have been expanded to accommodate 28 semi-private beds in double occupancy rooms. The building site is located on 4.48 acres of land that is part of an 80 acre medical campus. StoneGate believes that it is the only facility in this market that combines one campus with skilled nursing and rehabilitation and specialized adjacent memory care with both skilled and assisted living units. Specifically, the Cypresswoods facility will serve high acuity, atypical dementia and short-term rehab.

Heavenrich & Company serves as exclusive advisors to a $100 million equity fund dedicated to new construction of senior housing. Through its fund, Heavenrich provided both debt and equity for the operator. For 20 years, Heavenrich & Company has served as financial advisors to independent living, assisted living, Alzheimer and skilled nursing organizations. Based in Chicago, Heavenrich has advised public and privately held for-profit and non-profit healthcare organizations in mergers, acquisitions and finance.

For more information on this transaction call Adam Heavenrich at 312.558.1590.