GREENSBORO, Ga. — Ziegler acted as exclusive financial advisor in raising $20.5 million in financing. The borrower, Phorcys Capital Partners, will use the funds to acquire The Glen at Lake Oconee Village, a senior housing community in Greensboro, approximately midway between Atlanta and Augusta. Stride Bank provided the capital. The community was built in 2017 and features 28 independent living units, 68 assisted living units and 18 memory care units.
BUFORD, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 77-unit assisted living and memory care community in Buford, approximately 35 miles northeast of Atlanta. The community was built in 2012 and totals 51,063 square feet on 2.5 acres of land. The buyer is a Florida-based regional owner-operator that plans to invest in cosmetically updating the community and improve overall performance through continued lease-up and expense efficiencies. The seller was a private REIT that had purchased this asset as part of a larger portfolio and was …
LAWRENCEVILLE, Ga. — Highlands Residential and Perennial Properties have formed a joint venture to build Park Place Apartments, a 148-unit active adult community in Lawrenceville, approximately 30 miles northeast of Atlanta. Construction of the project is already underway, and first move-ins are scheduled for 2024. The senior population of Gwinnett County is expected to grow by 33.6 percent over the next 10 years and Atlanta metro wide by 47 percent, according to the developers. Atlanta-based Highlands Residential is the developer and at completion Perennial Properties will be the property manager. …
MADISON, Tenn., and MARIETTA and JONESBORO, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of three assisted living and memory care communities in the Southeast. Located in Madison, Marietta and Jonesboro, the portfolio totals 228 units built in 1999 and 2000. The properties are 46,483, 52,642, and 52,157 square feet, and are situated on approximately 3.69, 9.66, and 6.04 acres of land. The seller was a western US owner-operator divesting to focus on its core Western markets as these were outliers in their portfolio. The buyer is …
VILLA RICA, Ga. — BWE has provided $4.5 million in long-term financing for Legacy at Walton Trail, a newly constructed affordable seniors housing development in Villa Rica, approximately 30 miles west of Atlanta. Victor Agusta, Jr. originated the Freddie Mac Targeted Affordable Housing loan on behalf of Walton Communities. Built on the site of obsolete public housing, Legacy at Walton Trail comprises 90 one- and two-bedroom apartments. The homes will be available to adults age 55 or older who earn between 30 percent and 80 percent of the area median …
SPALDING COUNTY, Ga. — Evans Senior Investments (ESI) has arranged the sale of a 148-bed skilled nursing facility in Spalding County, approximately 40 miles south of Atlanta. A regional owner-operator sold the asset to CareTrust REIT for $12 million, or $81,000 per bed. The community was originally built in 1968 and underwent a significant renovation in 2022. At the time of marketing, the community was 95 percent occupied. CareTrust partnered with Florida-based Elevation Group to operate the facility.
ATLANTA — CareTrust REIT Inc. (NYSE:CTRE) has acquired a 148-bed skilled nursing facility located in the greater Atlanta metropolitan area. The acquisition represents CareTrust’s second skilled nursing facility in Georgia. Concurrently with the acquisition, CareTrust has entered into a new tenant relationship with Elevation Group LLC, a Florida-based skilled nursing operator led by two industry veterans and brothers Ken and Dan Funk. Elevation, which took over operations on May 1, has entered into a 15-year, triple-net lease with CareTrust that includes two five-year extension options and annual CPI-based rent escalators. …
ATLANTA — The Integral Group has selected McShane Construction Co. to build Veranda at Assembly. Located in Atlanta, the affordable senior living community will offer 100 units. Positioned on a 2.9-acre site on the northwest side of the city, the development will rise four stories. The property will offer nearly 3,000 square feet of amenity space, with units available in one- and two-bedroom floorplans. This project is the fifth collaboration between Integral and McShane. Integral selected SK Collaborative as a consultant to finalize plans and review associated materials and installation …
SANDY SPRINGS, Ga. — PruittHealth has acquired Dogwood Forest of Dunwoody, an assisted living community in the Atlanta suburb of Sandy Springs. Under the new ownership, the property is now called PruittPlace – Sandy Springs. Details regarding the seller, price and number of units were not disclosed.
GEORGIA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of three seniors housing communities in Georgia. Located in secondary markets throughout the state, the portfolio totals 156 units of assisted living and memory care. While at the time of sale the communities were not stabilized, the portfolio was well-positioned to capitalize on the strong demand for affordable senior care within their respective local markets, according to Blueprint. The buyer was a regional owner-operator that has been actively expanding within the Southeast. The seller and price were not disclosed.
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