Pisula Development Buys 150-Bed Care Facility

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Pisula Development Co., headquartered in The Woodlands, TX, acquired Brightpointe at Rivershire, a 62,000-square-foot, 150-bed transitional care facility in Conroe, TX. Construction on the asset at 604 Conroe Medical Dr., approximately 40 miles north of Houston, was completed in December 2016. The seller was identified as Lake Creek Development LLC.

The sales price was undisclosed, with the property valued at $10.5 million.

The facility is Pisula Development’s first transitional care product. “Although this is a new product type for our group, this followed our strategy of partnering with local physicians and strong operators to create a targeted real estate solution to satisfy a market need,” said Tom Pisula, president of Pisula Development.

Pisula Development Company is the development arm of RRC Medical Real Estate LLC, a full-service, commercial real estate firm with offices in Texas, Colorado and Pennsylvania.

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