Public REIT to acquire, redevelop assisted living tower site in Fort Worth, Texas
By John B. Mugford
Irvine, Calif.-based HCP Inc. (NYSE: HCP) isn’t just an owner of healthcare real estate; it’s a developer, too. The publicly traded REIT is in the process of buying and redeveloping the site of an aging assisted living tower on Fort Worth’s Near Southside and converting it to a variety of uses.
As can be expected, however, the redevelopment plan indeed calls for a large amount of medical space to go along with apartments, retail and parking.
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