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Lone Star Funds Acquires 10-Property Discovery Portfolio from Healthpeak for $334M

by Jeff Shaw

DALLAS — Lone Star Funds, a Dallas-based private equity firm, has acquired a 10-property portfolio of properties operated by Discovery Senior Living in Florida, Texas and Georgia. Healthpeak (NYSE: PEAK) sold the assets for $334 million. Although the REIT disclosed the sale during its first-quarter results last week, further details, including the buyer, weren’t disclosed at that time. Healthpeak is selling the bulk of its seniors housing portfolio in a move to exit the industry in favor of life sciences and medical office real estate. Discovery Senior Living retained management …

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FinanceGeorgiaIndependent LivingNews

NorthMarq Negotiates $7.7M Refinancing for Cottages on Wesleyan in Macon, Georgia

by Jeff Shaw

MACON, Ga. — NorthMarq has arranged a $7.7 million refinancing for Cottages on Wesleyan, a 45-unit independent living community in Macon. The transaction was structured with a 10-year term on a 30-year amortization schedule through Fannie Mae. Mark Ebersold, vice president of NorthMarq’s Charlotte regional office, arranged the transaction. “The owner constructed the asset over 20 years ago, and has done an outstanding job of maintaining it as a Class A asset in the market,” says Ebersold. “The property offers its residents patio-style living with one- and two-bedroom floorplans, and …

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DevelopmentGeorgiaNews

Independent Living, Assisted Living Community Underway in Jasper, Georgia

by Jeff Shaw

JASPER, Ga. — Construction has begun on The Lodge at Stephens Lake, a seniors housing community in Jasper, a small city in the North Georgia Mountains. The developer was not disclosed. The community is slated to open in spring 2022. When completed, the it will feature 70 independent living cottages as well as 86 apartments for assisted living and memory care. The active adult section of the community, Grandview at Gateway, features 106 homes for sale and a 4,000-square-foot clubhouse. Residents will begin to move into the homes by the …

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GeorgiaNewsSouth Carolina

JLL Arranges Sale, Financing for Claiborne Senior Living

by Jeff Shaw

AUGUSTA, Ga., and CHARLESTON, S.C. — JLL Capital Markets has advised CR Properties and Claiborne Senior Living on the sale of The Claiborne at West Lake and secured $9 million of construction financing for The Claiborne at Brickyard Crossing. The Claiborne at West Lake is a 100-unit assisted living and memory care community in Augusta. The community opened in late 2018 and was approaching 90 percent occupancy at the time of sale. The community was sold to Sabra Health Care REIT. Claiborne Senior Living will continue to manage the community …

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AcquisitionsAssisted LivingGeorgiaNews

Blueprint Brokers Sale of 160-Unit Community Near Atlanta

by Jeff Shaw

SANDY SPRINGS, Ga. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 160-unit assisted living and memory care community in Sandy Springs, just north of Atlanta. The community, which was not identified, recently underwent a multi-million-dollar renovation. The buyer is a turnaround specialist entering Georgia for the first time. Details on the seller and price were not disclosed.

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AcquisitionsFloridaGeorgiaNews

Sabra Acquires Two Communities in the Southeast for $28.5M

by Jeff Shaw

AUGUSTA, Ga., and GULF BREEZE, Fla. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has acquired a 100-unit seniors housing facility in Augusta and a former seniors housing facility in Gulf Breeze for an aggregate purchase price of $28.5 million. The Augusta location, The Claiborne at West Lake, opened in late 2018 and was nearly 90 percent occupied at the time of the transaction. The transaction was underwritten with an initial cash yield of nearly 8 percent and features an earnout opportunity for the seller after 12 months. Simultaneously with …

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AcquisitionsGeorgiaNews

SLIB Negotiates Sale of 46-Unit Mulberry Grove in Statham, Georgia

by Jeff Shaw

STATHAM, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mulberry Grove, a 46-unit seniors housing community in Statham, west of Athens. Built in 1997, the seller was a local owner-operator looking to retire. The buyer and price were undisclosed. Daniel Geraghty, Bradley Clousing and Dave Balow handled the transaction for SLIB. “This community will benefit operationally from the buyers expanding footprint throughout the Southeast,” says Geraghty.

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AcquisitionsGeorgiaIndependent LivingNews

Walker & Dunlop Arranges $164.5M Sale of Seniors Housing Portfolio in Atlanta

by Jeff Shaw

ATLANTA — Walker & Dunlop has facilitated the $164.5 million sale of The Mansions Portfolio, a portfolio of four Class A independent living properties in Atlanta. Focus Senior Housing Fund I LP, a discretionary investment vehicle that is managed by an affiliate of Focus Healthcare Partners LLC, bought the portfolio. Joshua Jandris, Mark Myers, Jordyn Berger and Brett Gardner of Walker & Dunlop represented the buyer in the transaction. Additionally, Russell Dey of Walker & Dunlop arranged three acquisitions loans through Freddie Mac. The seller(s) was not disclosed. The Mansions …

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DevelopmentGeorgiaIndependent LivingNews

Phoenix Senior Living Underway on 56-Unit Independent Living Community in Dallas, Georgia

by Jeff Shaw

DALLAS, Ga. — Phoenix Senior Living has started construction of The Phoenix at Dallas in Dallas, approximately 30 miles northwest of Atlanta. This project, scheduled for completion by March 2022, is adjacent to Phoenix’s existing memory care community, The Pearl at Dallas. Phase I of the project will add 56 independent living luxury cottages to the campus, with each totaling 1,220 square feet. Details on future phases were not disclosed.

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AcquisitionsAssisted LivingGeorgiaNews

SLIB Brokers Sale of 46-Unit Amber Glen Community in Gainesville, Georgia

by Jeff Shaw

GAINESVILLE, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Amber Glen, a 46-unit assisted living and memory care community in Gaineville. Amber Glen is located approximately eight miles from Lake Lanier and 70 miles northwest of downtown Atlanta. A group of five tenants in common, which purchased the asset in 2006, sold the property for an undisclosed price. The buyer, primarily a skilled nursing owner-operator, is looking to expand its assisted living presence across the state of Georgia. SLIB’s Daniel Geraghty and Bradley Clousing handled the …

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