Dallas-based Meridian Realty Advisors, a real estate investment, management, and development company specializing in senior housing and other healthcare investments, has sold a post-acute skilled nursing community in Bee Cave, Texas, for an undisclosed sum.
Park Manor at Bee Cave, located just north of the Hill Country Galleria along State Highway 71 in the Austin area, was sold to an unidentified buyer because Meridian “wanted to recognize the value that was created, as they were the developer,” a spokesperson said.
Completed in 2014, Park Manor is a 140-bed, roughly 53,000-square-foot property about 18 miles northwest of downtown Austin. It’s the only nursing facility within a four-mile radius and is a short drive away from Baylor Scott & White Medical Center-Lakeway. The Lakeway facility has 106 beds and an array of services, including emergency medicine, stroke care, heart care, and outpatient nutrition.
HFF marketed the property for Meridian. HFF’s investment advisory team included senior director David Fasano, along with senior managing directors Ryan Maconachy and Chad Lavender.