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Colliers announces the sale of Tranquility Assisted Living in Houston

Colliers is pleased to announce the sale of Tranquility Assisted Living, a 8,487 square foot assisted living facility, located at 9006 Poco Road in Houston, Texas. The buyer was Tranquility Properties. Elena Bakina of Colliers represented the seller, Tranquility Personal Care Home, in the transaction.

 

The two building, assisted living facility is situated on 0.57 acres in close proximity to Memorial Hermann's Memorial City Hospital in West Houston. The property features 23 beds with private and double room occupancy, activity rooms, onsite laundry and a security camera system. 

 

The seller has been operating this facility for over 15 years and wanted to retire. The buyer, Tranquility Properties, is an experienced local operator of the Assisted Living facilities and saw a value add opportunity. They will renovate the buildings, increase efficiency of the operations and stabilize the occupancy. The facility was sold at below 50% occupancy. 

 

There are 180 Seniors Housing (Majority AL & IL) properties containing 21,794 units in the Houston MSA and an additional 14 properties containing 1,885 units currently under construction. The average monthly rent in the Houston market is $3,978 per unit.

Tranquility Assisted Living_EB


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Elena Bakina

Senior Vice President

Houston - The Woodlands

Elena's area of expertise is in the healthcare and senior housing sectors of real estate. She also has experience in corporate office, life science, retail, land transactions and investment sales. Her clients include physicians, multispecialty groups, hospitals, developers, senior housing operators and owners in addition to private investors. Prior to joining Colliers in 2014, Elena was a Senior Healthcare Real Estate Advisor with Coldwell Banker Commercial Healthcare Services Group. Elena's past career as a cancer research scientist with the world’s best cancer centers and research institutions has led her to choose her core areas of specialization. Being actively involved with the healthcare industry through the American College of Healthcare Executives (ACHE) and the Medical Group Management Association (MGMA), helps her to stay updated with the needs of this industry and to better serve her clients.

The most rewarding part of her job is developing relationships with clients and gaining their trust and confidence as their real estate advisor. In regards to real estate transactions, what she enjoy most of all is research, analysis and negotiations.

Prior to moving to the Houston area, Elena lived in many Asian and European countries, which helped her develop a deep understanding of various cultures. Elena enjoys serving Houston’s multicultural community. She  also attended EXPO REAL in Germany several times to promote acquisition opportunities to foreign markets.

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