JEFFERSON and NORCROSS, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living and memory care communities in Georgia. The two communities are located approximately 50 miles from each other in Jefferson and Norcross, both northeast of Atlanta. Bradley Clousing and Daniel Geraghty led the transaction for SLIB. The buyer, seller, price and names of the communities were not disclosed.
AUSTIN, Texas; DOUGLASVILLE, Ga.; and MOBILE, Ala. — BWE has arranged $15.3 million in permanent loans to finance three affordable housing communities in Austin, Douglasville and Mobile. Jon Killough and Tony Love originated the loans using HUD’s RAD for PRAC initiative, a new tool designed to preserve existing Section 202 housing as well as create new Section 8 housing across the country. Traditionally, Section 202 PRAC rental assistance could only be used for operating expenses, not debt servicing. The RAD for PRAC process allows borrowers to convert PRAC subsidies to …
GEORGIA — Capital Funding Group (CFG) has provided $22.4 million in bridge-to-HUD financing for the acquisition of three skilled nursing facilities. The facilities, which are located in Georgia, total 338 beds. Details on the buyer, seller, price and locations were not disclosed. James Zabel originated the transaction.
ATLANTA — Canterbury Court, a continuing care retirement community in Atlanta’s Buckhead district, has doubled in size with its new expansion. The property now includes two new additions: The Garden Tower, a high-rise that features 105 independent living apartments and a ground-level restaurant, and Monarch Pavilion, a four-story building that offers seniors housing units, amenities and services in a neighborhood setting. Monarch Pavilion comprises Azalea View, a new assisted living community; Wisteria Park, a memory care destination centered around a courtyard garden; and Sage Glen, a skilled nursing neighborhood that …
AUGUSTA, STOCKBRIDGE and EVANS, Ga. — Blueprint has arranged the sale of three skilled nursing facilities: Laurel Park at Henry Medical Center in the Atlanta suburb of Stockbridge; Kentwood Extended Care in Augusta; and Westwood Extended Care in the Augusta suburb of Evans. The seller was Piedmont Healthcare Inc., Georgia’s largest nonprofit healthcare system. Through its 2022 affiliation with University Health Care System, two skilled nursing and long-term care facilities serving the greater Augusta market, as well as Piedmont Augusta and Piedmont McDuffie hospitals, became part of the Piedmont system. …
GEORGIA — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 94-unit personal care community in Georgia. The buyer is a regional owner-operator looking to make significant capital improvements to the community. Daniel Geraghty and Bradley Clousing led the transaction for SLIB. Further details were not disclosed.
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 …
