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Joint Venture Picks Up Shuttered Waco Care Center
SkyWalker Property Resources and Zelevie Health have acquired the closed-down 116-bed Healthcare Resort of Waco. The assisted living and skilled care facility will be re-branded Zelevie Health of Waco. The project had been closed since 2018 as a result of a landlord-tenant dispute. The seller is affiliated with Kawa Capital Management.
This is SkyWalker’s introduction into the senior-care line, “While it is a new asset class for SkyWalker, we really liked the real estate. It’s a class A project in a class A+ location,” said SkyWalker’s William Welder.
About $500,000 will be invested into addressing deferred maintenance and upgrading the kitchens, dining areas, landscaping and mechanical systems. Zelevie Health thinks the site will be ready for new residents at the end of this year.
The holding is a two story structure with 77,000 square feet, with 30 assisted living and 86 skilled nursing beds.
- ◦Sale/Acquisition
