The national healthcare real estate firm is building an amenity-filled independent living, memory care and assisted living residence in Bedford
DALLAS and FORT WORTH, Texas, Dec. 21, 2016 – Caddis is moving full speed ahead with its newest Heartis® senior living community in Texas – the 178,530 square foot Heartis MidCities in Bedford, about 14 miles northeast of Fort Worth. The national healthcare real estate firm recently finalized the financial closing on the project and issued a Notice to Proceed to the contractor EBCO, which is headquartered in Cameron, Texas. Financing for the project was provided by Expedition Capital Advisors LLC.
This is Caddis’ fifth senior living community near Dallas/Fort Worth and its 12th in Texas. Other DFW Heartis communities are located in Arlington, Fort Worth and Cleburne. Caddis’ first senior community was Orchard Park of Murphy located near Plano.
The 178-unit, Heartis MidCities independent living, assisted living and memory care residence is being built on the northeast corner of Highway 121 and Bedford Road in Bedford. The community, which will offer a host of special features and high-end amenities, is expected to be completed in winter 2017.
“We believe it’s important for every major market to have access to a Heartis senior community where residents live full, rewarding lives in a beautiful environment,” says Caddis CEO Jason Signor. “At Heartis MidCities, residents will feel warmly welcomed and obtain the support and care they need. For the residents and their families, that will mean peace of mind.”
Katie Csobaji, Caddis Senior Vice President of Senior Living, notes, “Heartis MidCities will provide residents with the highest quality amenities and services, plus a great location with convenient access for them and their families. We’re proud to offer the kind of community where our own moms and dads would feel at home.”
Heartis MidCities will offer a wide variety of amenities, including outdoor walking paths; beautifully landscaped grounds; large, secured courtyards; game and activity rooms; a beauty and barber shop; relaxing common areas; a large dining room offering delicious, chef-prepared meals; stimulating daily social and recreational activities; and luxurious finishes. Ongoing services include 24-hour emergency call system, housekeeping and laundry services and assistance with the activities of daily living.
The residence will be managed by Frontier Management, a senior living operations management company headquartered in Portland, Ore. The architect for the project is Austin, Texas-based Katus LLC.
Caddis, a national healthcare real estate firm based in Dallas, launched the Heartis senior living brand in early 2013 to reflect its mission of helping seniors live life to the fullest. In addition to the MidCities, Eagle Mountain, Arlington and Cleburne residences, Caddis is currently developing or has opened Heartis communities in Fayetteville, Ga.; Orland Park and Peoria, Ill.; and in the Texas cities of Conroe, Clear Lake, Cypress, Amarillo, San Antonio and Waco. Heartis communities provide high-quality, high-value services, programming and amenities; on-site personalized support; and inviting, caring home-like environments. For more information, please visit www.Heartis.com.
About Frontier Management
Founded in 2000, Frontier Management has over 14 years of experience in successfully managing and developing senior living communities. Currently, Frontier operates 69 communities in nine states throughout the United States. For more information about Frontier Management, visit www.frontiermgmt.com.
About Expedition Capital Advisors LLC
Expedition Capital Advisors LLC (“Expedition”) is a real estate investment firm that specializes in developing preferred relationships with real estate operating companies. Expedition utilizes these relationships to make both GP and LP investments across multiple product types and geographies to achieve superior risk-adjusted returns. Expedition is continually pursuing new preferred relationships that align with this targeted investment strategy. For more information about Expedition, please visit excapadvisors.com.
Caddis LLC is a national real estate development, management and investment firm focused exclusively on healthcare real estate. The firm is comprised of experienced real estate professionals across various disciplines that provide clients with expertise in development, acquisition, financing, construction management, leasing, tenant representation, property management and accounting. Since its inception, Caddis has developed or acquired nearly two million square feet of medical assets valued in excess of $500 million. In its annual Construction and Design Survey, Modern Healthcare magazine recognized Caddis as the 9th largest healthcare development company in the United States. For more information about Caddis, please visit www.caddis.com.
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