All posts by Cold Spring Holdings

Shady Shores Communities breaks ground on new senior healthcare community in Alice, TX

We are excited to announce the ground breaking of our new senior healthcare community in Alice, TX. The new campus located just an hour outside of Corpus Christi, is slated to open its doors near the end of FY 2017, with additional development work on the property finalizing by mid-2018.

As part of our goal of providing the latest advances in senior healthcare, the campus will feature: 

  • a 104 bed skilled nursing facility with outpatient therapy
  • a 16 bed assisted living community
  • a 16 bed memory care unit

Michael G. Wallace, CEO of Shady Shores Communities stated, “We are excited to be able to join the community of Alice, TX by introducing a truly remarkable campus that will provide a comprehensive senior healthcare focused community for patients and their families.”


Shady Shores Communities expands its portfolio in Texas

Denton, TX – Shady Shores Communities, LLC ( ) has announced that began operating 4 new nursing home facilities in Texas, giving the already rapidly growing operator an even bigger footprint in the state.

The facilities include The Atrium of Bellmead, Rock Creek Health and Rehabilitation in Sulphur Springs, Vista Del Mar Health and Rehabilitation in Corpus Christi and Mountain View Health and Rehabilitation in El Paso. The announcement brings the total number of homes being operated by Shady Shores Communities to 10 with plans for continued growth.

Michael G. Wallace, Chief Executive Officer of Shady Shores Communities stated, “The addition of these homes to our portfolio was an important       part of our long-term strategic plan. We are excited to become part of these communities.”

Shady Shores Communities, LLC Appoints New Director of Compliance and Human Resources

Denton, TX – Shady Shores Communities, LLC  announced today that Pam Govender has joined the group to further develop their compliance and human resource efforts throughout their growing long-term care operations in the state of Texas.

Pam Govender has more than 25 years of healthcare services experience having held a wide range of supervisory, upper management and ownership roles. Notably Pam was the Vice President and Co-Owner for Trinity Elite Healthcare, Inc. where she was in charge of delivering quality of care services in accordance with Medicare and Medicaid guidelines. She began her career working as a CMA/CNA for Senior Care Centers which gives her amazing insight of working directly with patients.

Michael G. Wallace, Chief Executive Officer of Shady Shores Communities comments, “Compliance and quality care are at the center of our efforts at Shady Shores Communities. Ensuring that we are better able to find, hire and retain the right talent we feel will help us execute our goal of providing our patients with the highest level of care possible. Through Pam’s healthcare experience and strong organizational and communication skills we feel we will be able to provide not only better service to the patients in our homes but an amazing place for our employees to call home.”

Shady Shores Communities, LLC Appoints New Director of Clinical Services

Denton, TX – Shady Shores Communities, LLC ( announced today that Becky Anderson has joined the group to further develop their clinical services throughout their growing long-term care operations in the state of Texas.

Becky Anderson has over 18 years of healthcare services experience, all of which is in long-term care. She has served in roles including Director of Nursing, Nurse Surveyor for the Texas Department of Aging and Disability Services, (“DADS”), and Program Manager DADS.

Most recently she served as Regional Nurse Consultant for Stonegate Senior Living, LLC. She graduated from Luther College in Decorah, Iowa with a BA in Nursing and is a Registered Nurse.

“Clinical services are paramount for us to offer the highest level of patient care at each of our facilities. It is the cornerstone in ensuring the well-being of our residents and we feel that the experience that Becky Anderson brings to the table will be a valuable asset to us at Shady Shores Communities.” said, Michael Wallace, Chief Executive Officer for Shady Shores Communities, LLC.


Premont Rehab and Nursing Center Walks for Breast Cancer

At Shady Shores Communities we have a lot to be grateful for and it is not just the amazing staff members that make up each of our nursing home communities in Texas but the residents in each and everyone of our homes as well. Well residents at our Premont Rehab and Nursing Center in Premont, TX held their first ever walk for breast cancer awareness this October. 35 residents from the home decked themselves out in pink and walked around the football field several times for their Pinktober Walk. The residents said it was no easy task but that they enjoyed every second of it and were happy about getting to play their part in this outstanding effort to fight back against breast cancer.

Read more about the event on KIITV South Texas.

New senior care operator in Texas

A new entrant in the post-acute care market made their first acquisition: a portfolio of four skilled nursing facilities in Texas for an undisclosed price. Formed in June 2015 by Michael Wallace, formerly President of Daybreak Ventures, Shady Shores Communities purchased the four facilities, with 424 beds, from three separate owner/operators. The mostly Medicaid census averaged 70% occupancy across the portfolio. Shady Shores is also in the process of developing three other facilities in Texas. To finance the acquisition, Oxford Finance provided a four-year $7 million senior secured term loan and a $1 million revolving line of credit. Mr. Wallace is wasting no time growing the business, planning on announcing four or five other acquisitions by the end of the year, while staying in Texas.

Oxford Finance Closes $8 Million Loan Facility with Shady Shores Communities

ALEXANDRIA, Va., Sept. 25, 2015 /PRNewswire/ — Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of a $7 million senior secured term loan and a $1 million revolving line of credit with Shady Shores Communities LLC (“Shady Shores Communities”). Proceeds from the loan are being used to acquire four skilled nursing facilities in Texas.

“Oxford is pleased to have the opportunity to broaden its ongoing business relationship with Michael G. Wallace and the Shady Shores management team,” said Tracy S. Maziek, managing director at Oxford Finance. “Mr. Wallace has many years of executive-level experience in the skilled nursing field and a deep understanding of his market.”

“Mr. Maziek and his team at Oxford were the obvious choice as a financial partner for our new company.  We look forward to growing our relationship in the years to come,” said Michael G. Wallace, chief executive officer of Shady Shores Communities.

About Oxford Finance LLC

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $2 billion in loans, with lines of credit ranging from $500 thousand to $75 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California,Massachusetts and North Carolina. For more information visit

About Shady Shores Communities LLC

Shady Shores Communities is a Texas-based, long-term care provider specializing in the operation of skilled nursing facilities, memory care facilities, and assisted living.  With its headquarters in Denton, Texas, Shady Shores Communities operates four skilled nursing facilities, with three additional campuses under development.

SOURCE Oxford Finance LLC