The Texas Rodeo Portfolio
Private Pay Assisted Living & Memory Care | 6 Facilities | 393 Units | $16M | Texas
✓Buying 6 Brookdale communities at $40,712/unit – 80% below replacement cost
✓85% target occupancy – national average is already at 90%
✓Projected 20–24% LP IRR – structured for passive investors
✓Day-one operator with proven turnaround track record in Texas
$40,712
per unit
Purchase Price
~80% below replacement cost of $250K–$350K/unit to build new
20–24%
LP IRR
Projected Returns
Targeted returns for limited partner investors
85%
target occ.
Target Occupancy
National average already at 90% — strong built-in cushion
15%
Cash-on-Cash
Projected Cash-on-Cash
Average annual cash-on-cash return on invested capital
A Rare Buying Opportunity
Six underperforming Brookdale communities across Texas – available at $40,712 per unit. That is roughly 80% below what it costs to build new today.
Private-pay assisted living and memory care in San Antonio, Houston, and DFW. Brookdale is vacating. Gemstone Senior Living steps in on day one.
The target occupancy is 85% – and the national average is already at 90%.
Investment Highlights
$40,712/unit
~80% below replacement cost
20–24% LP IRR
Targeted limited partner returns
85% target occ.
vs. 90% national average today
2.42x DSCR Year 1
Strong debt service coverage
$12.8M senior debt
5.6–7.5% fixed / 20-yr amortization
393 total units
6 communities, 3 Texas metros
Gemstone operator
Proven turnaround track record
Why Senior Housing. Why Now.
8,000-10,000 Americans turn 80 every single day for the next 25 years. New supply cannot keep up. This is one of the clearest demand stories in real estate right now.
90%
National Occupancy
Q4 2025 — highest since 2017
4.8x
Absorption vs. Supply
Demand drastically outpacing new supply
2.3%
Units Under Construction
Decade-low — high costs suppressing new builds
$275B
Investment Shortfall by 2030
Projected cumulative national supply gap
609,000 new units needed by 2030 – only 20,000 are in the pipeline.
The 6 Communities
San Antonio | Houston | DFW
Brookdale Hamilton Wolfe
San Antonio, TX
Type: Assisted Living
Size: 113 Units
Brookdale Shadowlake
Houston, TX
Type: Assisted Living & Memory Care
Size: 86 Units / 93 Beds
Brookdale San Marcos South
San Marcos, TX
Type: Assisted Living
Size: 89 Units
Brookdale Lewisville
Lewisville, TX
Type: Assisted Living
Size: 42 Units
Brookdale Creekside
Plano, TX
Type: Memory Care
Size: 30 Units / 40 Beds
Brookdale Corsicana
Corsicana, TX
Type: Assisted Living
Size: 33 Units
Operator: Gemstone Senior Living
Gemstone Senior Living is a hands-on operator with a proven track record turning around underperforming senior housing communities across Texas.
At their Castle Hills benchmark property:
59%
Occupancy Increase
in 6 months
67%
Revenue Increase
in 6 months
They apply the same playbook to these six communities starting day one.
Capital Structure
Purchase Price
$16,000,000
Price Per Unit
$40,712
Initial CapEx
$2,500,000
Senior Debt (80%)
$12,800,000
Total Equity Required
$7,275,000
Projected LP IRR
20–24%
Year 1 DSCR
2.42x
Schedule a Call with Our Team
Spots are limited. Schedule a call to review the full underwriting and see if this fits your goals.
