Georgia

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. …

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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 …

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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.

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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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ACWORTH and SUWANEE, Ga. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired Celebration Village Acworth in Acworth and Celebration Village Forsyth in Suwanee, both in the northern suburbs of Atlanta. Each property offers independent living, assisted living and memory care services. The communities offer a combined 474 units. Cushman & Wakefield’s Richard Swartz, Jay Wagner, Tim Hosmer and Christopher Remeika represented the seller in the transaction, a joint venture between AgeWell Living, The ASC Group and a large investment fund. Grace …

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LAWRENCEVILLE, Ga. — Live Oak Bank has arranged a $13 million loan to refinance debt on Mansions at Gwinnett Park, a seniors housing community in Lawrenceville, a northeastern suburb of Atlanta. The property, which opened in 2019, features 94 units of assisted living and memory care. The borrower is Mansions Senior Living, an Oklahoma-based operator. The property was still leasing up when the COVID-19 pandemic began, and the loan will allow additional time for the property to complete its lease-up, according to Live Oak.

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ATLANTA –– Jamestown has released its plans to develop Signal House, a 21-story active adult community in Atlanta. The property will be located adjacent to Ponce City Market, a massive mixed-use redevelopment of a former Sears, Roebuck & Co. store and warehouse. The property is adjacent to the Atlanta BeltLine rails-to-trails project in the city’s historic Old Fourth Ward neighborhood. Plans call for 162 units reserved for residents age 55 and older. The project is scheduled for completion in the third quarter of 2023. “Continuing Ponce City Market’s legacy of …

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AUGUSTA, Ga. — CBRE National Senior Housing has arranged the sale of Thrive at Augusta, a Class A assisted living and memory care community. Located in the heart of Augusta, the 85-unit community was built in 2019 and was fully occupied at the time of sale. Drake Real Estate Partners sold the asset to Inspired Healthcare Capital. While the price was not disclosed, CBRE also arranged $16.8 million in acquisition financing for the buyer. CBRE National Senior Housing’s investment sales team members Aron Will, John Sweeny Jr., Garrett Sacco and …

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COMMERCE, Ga. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.3 million loan for the refinancing of Brookside Commerce, an assisted living facility in Commerce, approximately 70 miles northwest of Atlanta. The 62-bed community includes 12 independent living units. It is 3.5 miles from Northridge Medical Center, a full-service community hospital. Robert Bhat, based out of the MMCC Miami office, led the transaction. “Brookside Commerce was acquired in September 2019,” says Bhat. “We were able to secure a 35-year HUD loan to refinance the asset and provide cash …

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DALLAS, Ga. — Berkadia Institutional Solutions has arranged the sale of Hardy Springs, a 149-unit single-family, built-to-rent, active adult community located in the Atlanta suburb of Dallas. Russ Hardy of Berkadia Atlanta and Brooks Minford and Simona Wilson of Berkadia Seniors Housing & Healthcare completed the $47.8 million sale on behalf of the seller, Georgia-based Highlands Residential. The buyer was South Carolina-based Blaze Partners. Hardy Springs features one- and two-bedroom floor plans with walk-in closets, private garages and private patios or balconies. Community amenities include a clubhouse, fitness center and …

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