CAPITAL SENIOR LIVING CORP
ASSIGNMENT OF PARTNERSHIP INTEREST
<DOCUMENT>
<TYPE>EX-10.87
<SEQUENCE>2
<FILENAME>d84858ex10-87.txt
<DESCRIPTION>ASSIGNMENT OF PARTNERSHIP INTEREST
<TEXT>

<PAGE>   1

                                                                   EXHIBIT 10.87

                       ASSIGNMENT OF PARTNERSHIP INTEREST


         THIS ASSIGNMENT OF PARTNERSHIP INTEREST (this "Assignment") is made and
entered into as of, although not necessarily on, the 1st day of October, 2000
(the "Effective Date"), by and between Capital Senior Living Properties, Inc., a
Texas corporation, (hereinafter called "Assignor") and Triad Senior Living,
Inc., a Texas corporation, (hereinafter called "Assignee");

                                   WITNESSETH:

         WHEREAS, Assignee is desirous of acquiring eighteen percent (18%) of
the nineteen percent (19%) limited partnership interest in Triad Senior
Living I, L.P. (hereinafter the "Partnership") owned by Assignor (hereinafter
the acquired amount is called the "Partnership Interest"); and

         WHEREAS, Assignor is agreeable to transfer the Partnership Interest to
Assignee and thereby retain a one percent (1%) limited partnership interest in
the Partnership; and

         NOW, THEREFORE, for and in consideration of Two Million Eight Hundred
Forty Two Thousand One Hundred Five and No/100 Dollars ($2,842,105.00) and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto do hereby agree as follows:

         1.       ASSIGNMENT OF PARTNERSHIP INTEREST. Assignor hereby assigns to
                  Assignee, and Assignee hereby accepts from Assignor, the
                  Partnership Interest, including but not limited to all right,
                  title and interest represented by the Partnership Interest in
                  and to the properties (real and personal), capital, cash flow
                  distributions, profits and losses of the Partnership. Assignor
                  hereby represents and warrants to Assignee that it has not
                  heretofore sold, assigned, pledged or otherwise disposed of
                  the Partnership Interest. Assignor further represents and
                  warrants that it has good and valid legal title to the
                  Partnership Interest. After the Assignment, the effective
                  Partnership Interests shall be: Triad Senior Living, Inc. - GP
                  - 1%, Lehman Brothers - LP - 80%, Capital Senior Living
                  Properties, Inc. - LP - 1%, and Triad Senior Living, Inc. - LP
                  - 18%.

         2.       EFFECTIVE DATE. From and after the Effective Date, that
                  portion of the net profits or net losses and cash flow
                  (including all cash flow to which Assignee may be entitled on
                  the Effective Date) of the Partnership allocable to the
                  Partnership Interest shall be credited, charged or
                  distributed, as the case may be, to Assignee and not to
                  Assignor.

         3.       FUTURE COOPERATION ON SUBSEQUENT DOCUMENTS. Assignor and
                  Assignee mutually agree to cooperate at all times from and
                  after the date hereof with respect to the supplying of any
                  information requested by the other regarding any of the
                  matters described in this Assignment, and each agrees to
                  execute such further deeds, bills of sale, assignments,
                  amendments to the partnership agreement of the Partnership, or
                  other such documents as may be reasonably requested and
                  appropriate for the purpose of giving effect to, evidencing or
                  giving notice of the transactions undertaken hereby.

         4.       SUCCESSORS AND ASSIGNS. This Assignment shall be binding upon,
                  and shall inure to the benefit of, the parties hereto and
                  their heirs, legal representatives, successors and assigns.

         5.       SURVIVAL OF REPRESENTATIONS. The representations, warranties,
                  covenants and agreements of the parties contained in the
                  Assignment shall survive the consummation of the transactions
                  contemplated hereby.

         6.       MODIFICATION AND WAIVER. No supplement, modification, waiver
                  or termination of this Assignment or any provisions hereof
                  shall be binding unless executed in writing by the parties to
                  be bound thereby. No waiver of any of the provisions of


                                       1


<PAGE>   2

                  this Assignment shall constitute a waiver of any other
                  provision (whether or not similar), nor shall such waiver
                  constitute a continuing waiver unless otherwise expressly
                  provided.

         7.       GOVERNING LAW. This Assignment is being executed and is
                  intended to be performed in the State of Texas and shall be
                  construed and enforced in accordance with the laws of the
                  State of Texas.

         8.       COUNTERPARTS. This Assignment may be executed by the parties
                  hereto individually or in any combination, in one or more
                  counterparts, each of which shall be original and all of which
                  shall together constitute one and the same agreement.


IN WITNESS WHEREOF, this Assignment is executed as of the day and year first
above written.

                                  ASSIGNOR:

                                  CAPITAL SENIOR LIVING PROPERTIES,
                                  INC., A TEXAS CORPORATION


                                  By: /s/ LAWRENCE A. COHEN
                                     ------------------------------------------
                                     Lawrence A. Cohen, Chief Executive Officer


                                  ASSIGNEE:

                                  TRIAD SENIOR LIVING, INC., A TEXAS
                                  CORPORATION




                                  By: /s/ BLAKE N. FAIL
                                     ------------------------------------------
                                     Blake N. Fail, President







                                       2

</TEXT>
</DOCUMENT>
