Turtle Creek Memory Care

White house with peaked roof and a front porch surrounded by a lush green lawn, trees, and flowers. A paved walkway leads to the entrance, flanked by lampposts.

Actual Returns

2.0x

26%

3 years

Internal Rate of Return

Equity Multiple

Holding Period

Executive Summary

RCP Turtle Creek MC, LLC invested approximately $2.26 million of equity to acquire and renovate a 35-unit / 42-bed, private-pay memory care facility. The Project is situated on 1.1 acres located in the highly desirable Turtle Creek area of Dallas. The business plan is to reposition the facility by completing a cosmetic renovation, replacing the operator and implementing strategic pricing. The Project will be marketed for sale once it is leased-up and stabilized.

Closing Summary

The seniors housing facility known as Iris Memory Care of Turtle Creek, sold last week. The buyer purchased the Project for $13,000,000 which exceeds RCP’s original sales price projection by $1.9 million.

RCP Class A Investors have achieved a 26.4% internal rate of return (IRR) and a 2.02x multiple on their investment in a three-year holding period.