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.
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 …
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.
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 …
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.
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 …
CUMBERLAND, Ga. — Overture Powers Ferry, Greystar’s newest 55+ active adult community, is now leasing with first move-ins planned for this fall. The community features 171 one- and two-bedroom apartment homes, available to individuals over the age of 55, and is located in the first-ring Atlanta suburb of Cumberland. The community is situated just north of Atlanta’s upscale Buckhead neighborhood. The property features 12,000 square feet of community space for gatherings. Apartments range from 555 to 1,405 square feet, with rents starting at $1,543 per month.
DALLAS, Ga. — Live Oak Bank has provided a $13 million loan for the construction of The Phoenix at Dallas, located approximately 30 miles northwest of Atlanta. Phoenix Senior Living is developing the 56-unit independent living project, which will consist of 14 quadplex cottages. The Phoenix at Dallas is Phase II of a three-phase campus build-out. The cottages, walking trails, pool, and cabana, will be built across a 15-acre parcel adjacent to the Pearl at Dallas, a memory care community also operated by Phoenix Senior Living. Ten additional acres of …
SUGAR HILL, Ga. — Holbrook Life has unveiled plans for a new seniors housing community in Sugar Hill, approximately 35 miles northeast of downtown Atlanta. Plans call for 102 assisted living units and 28 memory care units at the community. Partners on the project include Holbrook Life Management, Choate Construction, Harrison Design Architect and Abbey Hall Interiors. The City of Sugar Hill Downtown Development Authority has offered an eight year, $5 million dollar tax abatement incentive for the project.
DAHLONEGA, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Dahlonega Assisted Living & Memory Care in Dahlonega, located in the North Georgia Mountains approximately 65 miles north of Atlanta. The community features 58 assisted living units and 14 memory care units. The facility received its Certificate of Occupancy in September 2019 and fully leased up with a waitlist only six months after opening, according to SLIB. The property also provides the opportunity to add 20 new units. A local owner-operator seeking to exit seniors housing sold …