FOREST PARK, Ga. — Senior Living Investment Brokerage has arranged the sale of Governor’s Glen, a 50-unit memory care community in the southern Atlanta suburb of Forest Park.
Birchwood Healthcare Properties purchased the community from a local doctor that was retiring. The purchase price was $4 million, or $80,000 per unit.
Governor’s Glen was built in 2000 near the Hartsfield-Jackson International Airport. The 28,977-square-foot community received upgrades over the last five years, including a new roof. Atlanta-based Canopy Lifestyles will operate the property.
The acquisition included the assumption of approximately $3 million in HUD-insured debt. The new owner plans to implement interior upgrades, as well as changes to operations and marketing.
Bradley Clousing and Jeffrey Binder handled the sale for Senior Living Investment Brokerage.