LifeCare Properties Announces Sale of Award-Winning Senior Community, The Blake at Waco

WACO, Texas, Nov. 1, 2024 /PRNewswire/ — LifeCare Properties, developer of senior living communities based in Biloxi, Mississippi, recently announced the sale of The Blake at Waco to a publicly traded Real Estate Investment Trust (REIT). The transaction was expertly facilitated by Cody Tremper and his team at Berkadia Seniors Housing & Healthcare.

LifeCare Properties achieves strategic sale of The Blake at Waco, paving the way for future growth.

The Blake at Waco, a 112-unit, resort-style assisted living and memory care community, has set a high standard in senior care with its design and amenities. The community, built in 2021 adjacent to the Baylor Scott & White Hospital campus, features 71 assisted living units and 41 memory care units, along with amenities such as a salon, movie room, on-site physical therapy clinic, and flexible floor plan suites.

LifeCare Properties’ design partner, Banko Design, earned the 2022 Bronze Award from the American Society of Interior Designers (ASID) for its outstanding interior design in the Multifamily Senior Living category for The Blake at Waco.

Brooks Holstein, Founder of LifeCare Properties, commented on the transaction, “We are incredibly proud of what we’ve accomplished with The Blake at Waco, not just in terms of operations and resident satisfaction, but also in excellence of design, as recognized by our design partner Banko Design’s Bronze Award from ASID. This transaction represents a significant milestone for LifeCare Properties. Selling to a leading publicly traded REIT not only validates our success in creating valuable, high-quality properties, but also strategically positions us to leverage this achievement for further growth.”

Blake Management Group will continue to operate the community, ensuring that the high standards of care and service that residents have come to expect will remain unchanged. The sale underscores LifeCare Properties’ focus on enhancing the value and quality of senior living communities through exceptional design and management.

About LifeCare Properties

LifeCare Properties, LLC (LCP), specializes in developing institutional-grade senior living communities. Leveraging extensive market selection experience and relationships with national and regional contractors, LCP consistently develops successful communities. Founded on core values of integrity, knowledge, accountability, and results, LCP’s parent company, COMVEST Properties, LLC, is a family-owned, multi-generational development and investment company with a diverse real estate portfolio including hotels, restaurants, retail, and senior living.

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

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