ARC Acquires Community in Atlanta from Carlyle Group, Formation Development for $78.6M

ATLANTA — CBRE Capital Markets’ National Senior Housing team has arranged the sale of Renaissance on Peachtree, a 229-unit independent living and assisted living community in Atlanta, to American Realty Capital Healthcare Trust III LLC (ARC) for $78.6 million.

CBRE’s Lisa Widmier and Matthew Whitlock represented the seller, a joint venture between The Carlyle Group and Formation Development Group, in the transaction.

Renaissance on Peachtree is located in the upscale Buckhead neighborhood of Atlanta, and was 94 percent occupied at the time of sale.

During their ownership period, Carlyle Group and Formation repositioned and renovated the property.