Meridian Senior Living LLC, in a joint venture with Griffin-American Healthcare REIT IV Inc., has acquired Pelican Bay, an assisted living and memory care community located in Beaumont, Texas, for $19.5 million. Meridian Senior Living will manage the property.
“This is an exciting time for Meridian as we continue to grow our portfolio with Griffin-American. We look forward to serving more residents in Texas through the acquisition of this wonderful community,” said Dan Castleberry, Chief Investment Officer at Meridian Senior Living.
Built in 2012, Pelican Bay is situated on 4.4 acres of land and features approximately 61,000 square feet of assisted living and memory care space. Pelican Bay’s services consist of assisted living, memory care, short-term stays and respite. Amenities include a theater room, exercise room, beauty shop, whirlpool room, courtyards, 24-hour staff care, and more. Learn more at www.meridiansenior.com/pelicanbay.