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Hines and Clearwater Living Senior Housing Fund V Team Up with an Institutional Partner to Recapitalize and Rebrand a Luxury Senior Living Facility in Houston

5/13/24

Hines, Clearwater Living Senior Housing Fund V (a Clearwater Living investment vehicle) and an institutional investor have formed a joint venture to successfully recapitalize and rebrand Clearwater at The Heights in Houston. This initiative introduces Clearwater Living as the new manager of the luxury senior living community previously known as The Watermark at Houston Heights, and marks Clearwater Living’s first venture into the Texas market.

Located in Houston’s vibrant Heights neighborhood, the seven-story, 182.3k sf senior living community opened in 2022 and consists of 220 independent living, assisted living and memory care residences with floor plans ranging from studios to two-bedrooms. Designed by Muñoz + Albin, the community boast exceptional amenities including fitness rooms with yoga and other wellness classes, an art studio, an outdoor heated swimming pool suitable for aerobics classes and therapy, a salon with an onsite spa, and a golf simulator. Residents can choose from several dining options, including a café, a bar, a formal dining room, and a more casual gallery on the top floor that offers stunning skyline views.

Clearwater is committed to promoting healthy, empowered lifestyles within its communities. Residents benefit from comprehensive care services including access to a licensed nurse, round-the-clock care partners, medication coordination, and regular monitoring. Collaborations with local care providers also offer physical therapy, occupational therapy, and speech-language pathology services, embodying Clearwater's philosophy of Empowered Living. Clearwater currently features eleven communities across California, Nevada and Arizona, with more properties currently under development.

Hines is dedicated to redefining the future of senior housing by leveraging its extensive development expertise and global network to create state-of-the-art, hospitality-inspired communities. The firm currently owns stakes in seven senior housing communities across the United States, including two in Houston.




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