Hilco real estate has set a deadline of Apr. 30 for bids on two assisted living facilities in Fort Worth.
Hilco was hired to sell Vincent Victoria Village and Tandy Village. Both facilities are owned by entities affiliated with Pender Capital, according to the Texas Department of Health and Human Services.
The sale represents an opportunity to “reap the benefits from a strong demand for senior housing,’ said Steve Madura, senior vice president at Hilco.
Vincent Victoria Village is located at 4607 E. California Parkway, about 10 miles southeast of downtown Fort Worth. The one-building facility was built in 1971. It is licensed for 80 beds and spans almost 30,000 square feet. The current occupancy rate is more than 90 percent.
The zoning for this property allows for multifamily, but the site’s best use is to continue operations as an assisted living facility, Hilco said in its statement.
Tandy Village is located at 2601 Tandy Avenue, about four miles east of downtown Fort Worth. The facility was built in 1982 and renovated in 2015. It is licensed for 160 beds and spans nearly 70,000 square feet. The facility has two buildings and sits on almost four acres.
The facility was cited for the presence of flies and fruit flies in a May 2023 health inspection; the facilities were cited again in December for the same violation, the Star-Telegram reported.
Hilco is a real estate bridge lender based in Northbrook, Illinois. The firm specializes in transactions like bankruptcy sales.
The firm was behind the bankruptcy sale of land parcels along the Interstate 35 corridor between Austin and Dallas-Fort Worth. The parcels were located on the south side of Georgetown, a city about 30 miles north of Austin. Georgetown is one of the fastest-growing cities in Texas; it added more than 22,000 residents between 2020 and 2023.
