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Affordable HousingDevelopmentGeorgiaNews

Columbia Residential Completes $35M Redevelopment at Legacy at East Lake in Atlanta

by Hayden Spiess

ATLANTA — Columbia Residential, in partnership with Atlanta Housing and other public and private stakeholders, has completed a $35 million redevelopment at Legacy at East Lake in Atlanta and reopened the community.  Originally built in the 1970s, the property features 149 studio and one-bedroom apartments across eight stories. Units are reserved for residents age 55 and older and households earning at or below 30, 50 and 60 percent of the area median income. Rents are capped at 30 percent of household income through project-based vouchers.  Financing for the redevelopment included $12.4 …

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Assisted LivingDevelopmentGeorgiaIndependent LivingMemory CareNews

ASC Breaks Ground on 377-Unit Community in Athens, Georgia

by Hayden Spiess

ATHENS, Ga. — Active Senior Concepts (ASC) has broken ground on Celebration Village Athens, a new senior living community in Athens, roughly 80 miles northeast of Atlanta.  Upon completion, the development will total 377 units, with 96 bungalows, 20 independent living cottages, 70 independent living villas, 96 concierge living apartments, 66 assisted living apartments and 29 memory care suites. Celebration Village Athens will also feature a 30,000-square-foot Celebration Club and 4,000-square-foot spa and wellness center.  Amenities at the community will include pickleball and bocce ball facilities, pavilions with grill stations, fire …

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AcquisitionsGeorgiaNewsSkilled Nursing

SLIB Brokers Sale of 439-Bed Skilled Nursing Portfolio in Metro Atlanta

by Hayden Spiess

ATLANTA — Senior Living Investment Brokerage has brokered the sale of a skilled nursing portfolio in metro Atlanta.  The portfolio includes two properties totaling 439 beds.  Daniel Geraghty and Bradley Clousing of SLIB arranged the transaction on behalf of the seller, a Northeast-based owner. An undisclosed owner and operator was the buyer. 

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LaGrange-Heritage-Senior-Living_LaGrange-Ga
AcquisitionsAssisted LivingGeorgiaIndependent LivingMemory CareNews

SLIB Arranges Sale of 100-Unit Community in Georgia

by Hayden Spiess

LAGRANGE, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of LaGrange Heritage Senior Living, a 100-unit seniors housing community located in LaGrange.  Developed in 2021 on 14.1 acres, the property features independent living, assisted living and memory care residences.  A Georgia-based developer sold the community to a regional operator. The buyer, which has partnered with an institutional capital provider, plans to implement improved marketing efforts and complete the lease-up of the property.  Daniel Geraghty and Bradley Clousing of SLIB represented the seller in the transaction. 

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Corso Atlanta in Atlanta
FinanceGeorgiaNews

Newmark Arranges $140M Recapitalization for Seniors Housing Community in Atlanta

by Channing Hamilton

ATLANTA — Newmark has arranged the $140 million recapitalization of Corso Atlanta, a seniors housing community in Atlanta. Located at 3200 Howell Mill Road, the property features 203 units. Sarah Anderson, Chad Lavender, Ryan Maconachy, Mills Poynor and Ben McElroy secured a 10-year Freddie Mac senior loan and a preferred equity investment from the Kayne Anderson Real Estate Debt platform on behalf of the owner, Galerie Living. The Freddie Mac loan features five years of interest-only payments. Amenities at Corso Atlanta include a bistro and creperie, heated pool, fitness center, salon, …

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FeaturesFinanceGeorgiaIndustry ContentInvestmentNews

Improving Market Conditions, Re-emergence of Banks Give Seniors Housing Investors Cause for Optimism, Interface Panel Says

by Channing Hamilton

ATLANTA — Investment markets have been tumultuous over the past year, with high interest rates and inflation impacting the flow of debt and equity across the commercial real estate industry. Last year, many investors and brokers chose to weather the storm and try to make it to 2025, when it was estimated that interest rates would begin to moderate. Recently, however, conditions seem to be improving in the seniors housing sector, where many investors are leaving behind the “survive till 2025” strategy that defined 2023. Editor’s note: InterFace Conference Group, a …

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FeaturesGeorgiaNewsOperations

Technology Can Complement — But Never Replace — The Human Touch in Seniors Housing Communities, Say InterFace Panelists

by Channing Hamilton

ATLANTA — Though the older population is often seen as removed from modern technology, tech products offer great promise to the seniors housing sector. Participants in the “Technology Revolution: Enhancing Resident Care and Operational Cost Effectiveness” panel at the InterFace Seniors Housing Southeast conference held recently in Atlanta all agreed on this point. Importantly though, the panel — which was moderated by Mark Petty, vice president of corporate accounts with ICON — also highlighted the fact that seniors housing is an industry rooted in human interaction. Given this fact, the …

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AcquisitionsAssisted LivingGeorgiaNews

SLIB Brokers Sale of 41-Unit Assisted Living Facility in Cumming, Georgia

by Channing Hamilton

CUMMING, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Country Gardens Lanier, a 41-unit assisted living facility in Cumming, approximately 40 miles northeast of Atlanta. SLIB was retained to solicit bids on behalf of the court-appointed receiver, GGG Partners. The buyer was a regional owner and operator seeking to expand its footprint across the Southeast.  Managing Director Daniel Geraghty and Senior Managing Director Bradley Clousing of SLIB handled this transaction. The buyer operates another seniors housing community in Forsyth County, Georgia, according to Geraghty, which “should …

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AcquisitionsAssisted LivingGeorgiaNews

Blueprint Brokers Sale of 61-Unit Assisted Living Community in Buford, Georgia

by Channing Hamilton

BUFORD, Ga. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 61-unit assisted living and memory care community in Buford, located 39 miles northeast of Atlanta. The buyer in the all-cash transaction was an acquirer of value-add properties. The seller was an institutional real estate and development firm. The names of the buyer and seller were not disclosed. Even though the property was at 73 percent occupancy and operating at a negative margin at the time of sale, the real estate asset’s potential attracted significant interest, particularly …

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InterFace Seniors Housing Southeast Power Panel
FeaturesGeorgiaInvestmentNewsOperations

Careful Balance of Business Fundamentals, Quality Care Is Key to Success, Say InterFace Panelists

by Jeff Shaw

ATLANTA — Seniors housing is a sector that has a long track record of carefully balancing care for its residents with the fundamentals of real estate, namely the return on investment in the form of monthly rental rates. Equity and debt partners have appreciated the sector as an investment vehicle for decades, but are now fully grasping how important operators are to realizing those gains. This was the topic of discussion among the “power panel” of executives at InterFace Seniors Southeast, an annual conference that was held at Westin Buckhead …

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