Dallas company MedCore bought a senior living facility down the street from its offices and thinks it can make it successful again.
The senior living facility was struggling at 50% occupancy when it was acquired. But a new operator thinks it can turn it around.
MedCore plans to renovate The Grove on Forest Lane, recruit new talent and operate it with in-house sales and marketing teams, according to Sundeep Jeste, senior vice president of seniors housing operations at MedCore. The location was a big draw, he said. It’s close to MedCore’s office and is centrally located to hospital systems, recreational activities and lifestyle amenities.
Jeste said MedCore considers it a good time to buy in the senior living space because the world is coming out of the COVID-19 pandemic, which cut into occupancy in many facilities.
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