CNL to Expand Senior Housing in Lubbock

ORLANDO, Fla.—CNL Healthcare Properties, a REIT focused on senior housing and health care facilities, is investing approximately $16.2 million to expand its 263-unit senior housing community on the Raider Ranch campus in Lubbock, Texas. The expansion project, which is being developed with Dallas-based companies South Bay Partners Ltd. and Integrated Real Estate Group, will house 42 independent living apartment units and 30 independent living villas.

“In 2013, CNL Healthcare Properties acquired The Club at Raider Ranch and the Isle at Raider Ranch,” Kevin Maddron, senior vice president of CNL Healthcare Properties, told GlobeSt.com. “Through this expansion, we can fully complete the campus to its potential with new units in high demand. We are delighted to have the opportunity to add to the value of the Raider Ranch campus and better meet the needs of the community.”