Bracewell Advises Brazos Presbyterian Homes, Inc. and BPH Holding Co. in Membership Substitution of Life Plan Community in Austin, Texas
HOUSTON – Bracewell LLP represented Brazos Presbyterian Homes, Inc. (BPHI) and BPH Holding Co. (BPHH) in connection with the acquisition of Longhorn Village, an entrance fee life plan community in Austin, Texas, through a member substitution transaction resulting in BPHH becoming the sole member of Longhorn Village. Prior to the change in control, Longhorn Village was sponsored by The Texas Exes, the official alumni association of The University of Texas. The transaction closed on August 1, 2018, after receiving regulatory approval.
Longhorn Village is a single-site, stand-alone community located on 55 acres with 214 entrance fee independent living units, 20 assisted living suites, 16 memory support assisted living suites and 60 skilled nursing beds. BPHI also owns and operates Brazos Towers at Bayou Manor and the Hallmark in Houston.
Bracewell lawyers involved in the transaction include:
Partners: Jonathan C. Leatherberry and Brian P. Teaff